Kimbell Royalty Partners (NYSE:KRP) Price Target Raised to $22.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective boosted by Truist Financial from $21.00 to $22.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America reissued an underperform rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. KeyCorp boosted their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an overweight rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $20.83.

Kimbell Royalty Partners Stock Performance

Shares of NYSE KRP opened at $16.69 on Monday. Kimbell Royalty Partners has a 12 month low of $14.02 and a 12 month high of $17.11. The company has a market cap of $1.59 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.62 and a beta of 1.13. The business’s 50 day moving average is $16.60 and its two-hundred day moving average is $15.89. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 0.42.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The company had revenue of $87.50 million for the quarter, compared to the consensus estimate of $79.42 million. Kimbell Royalty Partners had a return on equity of 5.74% and a net margin of 12.93%. The company’s revenue was up 52.4% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. On average, equities analysts expect that Kimbell Royalty Partners will post 0.92 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 11.75%. The ex-dividend date was Friday, May 10th. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 326.67%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 50,000 shares of Kimbell Royalty Partners stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now directly owns 249,030 shares of the company’s stock, valued at $4,113,975.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of hedge funds have recently made changes to their positions in KRP. Raymond James & Associates grew its stake in Kimbell Royalty Partners by 1.7% during the second quarter. Raymond James & Associates now owns 1,053,892 shares of the energy company’s stock worth $17,242,000 after buying an additional 17,629 shares during the last quarter. Accordant Advisory Group Inc increased its holdings in Kimbell Royalty Partners by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 179,507 shares of the energy company’s stock valued at $2,937,000 after purchasing an additional 3,435 shares in the last quarter. Mirador Capital Partners LP bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $812,000. SG Americas Securities LLC acquired a new position in Kimbell Royalty Partners in the second quarter worth $1,227,000. Finally, Accel Wealth Management acquired a new position in Kimbell Royalty Partners in the second quarter worth $196,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty Partners