Raymond James Issues Positive Forecast for Kimbell Royalty Partners (NYSE:KRP) Stock Price

Kimbell Royalty Partners (NYSE:KRP) had its price target raised by Raymond James from $19.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the energy company’s stock.

A number of other brokerages also recently commented on KRP. KeyCorp lowered their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lifted their target price on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.20.

Kimbell Royalty Partners Trading Down 0.6 %

Shares of Kimbell Royalty Partners stock opened at $15.88 on Thursday. Kimbell Royalty Partners has a 1 year low of $14.57 and a 1 year high of $17.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The business has a 50 day moving average price of $15.89 and a 200 day moving average price of $16.02. The company has a market capitalization of $1.52 billion, a P/E ratio of 31.14, a P/E/G ratio of 8.13 and a beta of 1.10.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. Sell-side analysts anticipate that Kimbell Royalty Partners will post 0.65 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.33%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 321.57%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. This represents a 9.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaCore Capital LLC lifted its stake in shares of Kimbell Royalty Partners by 0.5% in the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after purchasing an additional 675 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Kimbell Royalty Partners by 4.7% in the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after buying an additional 823 shares during the period. Carson Advisory Inc. lifted its position in Kimbell Royalty Partners by 1.8% during the third quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock valued at $791,000 after buying an additional 883 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Kimbell Royalty Partners by 98.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after buying an additional 1,484 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter worth $25,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners