Kimbell Royalty Partners (NYSE:KRP) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) saw strong trading volume on Wednesday after Raymond James raised their price target on the stock from $18.00 to $20.00. Raymond James currently has a strong-buy rating on the stock. 15,415 shares changed hands during trading, a decline of 92% from the previous session’s volume of 195,723 shares.The stock last traded at $13.05 and had previously closed at $12.68.

A number of other research firms also recently commented on KRP. KeyCorp upped their price objective on Kimbell Royalty Partners from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, June 16th. Zacks Investment Research downgraded Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a report on Friday, July 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.17.

In other news, major shareholder Kkr Upstream Associates Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $12.20, for a total value of $12,200,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in KRP. Total Clarity Wealth Management Inc. bought a new position in shares of Kimbell Royalty Partners during the first quarter worth approximately $62,000. Meridian Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners during the first quarter worth approximately $124,000. Center for Financial Planning Inc. bought a new position in shares of Kimbell Royalty Partners during the first quarter worth approximately $39,000. Boston Private Wealth LLC bought a new position in shares of Kimbell Royalty Partners during the first quarter worth approximately $247,000. Finally, King Luther Capital Management Corp increased its stake in shares of Kimbell Royalty Partners by 11.0% during the first quarter. King Luther Capital Management Corp now owns 100,550 shares of the energy company’s stock worth $1,020,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 25.02% of the company’s stock.

The stock has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $11.53. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market cap of $793.52 million, a P/E ratio of -5.93 and a beta of 2.08.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, August 5th. The energy company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). Kimbell Royalty Partners had a positive return on equity of 3.75% and a negative net margin of 86.40%. The company had revenue of $25.73 million for the quarter, compared to the consensus estimate of $33.91 million. Equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, August 2nd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 9.46%. The ex-dividend date was Friday, July 30th. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.27. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 136.26%.

About Kimbell Royalty Partners (NYSE:KRP)

Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded on October 30, 2015 and is headquartered in Fort Worth, TX.

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