Kimbell Royalty (NYSE:KRP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a buy rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada began coverage on Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price for the company. Zacks Research cut Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kimbell Royalty in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

Kimbell Royalty Price Performance

KRP stock opened at $14.97 on Friday. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.80. The company has a market cap of $1.72 billion, a P/E ratio of 17.82 and a beta of 0.30. The firm has a 50-day moving average of $14.85 and a 200 day moving average of $14.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The business had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $93.45 million. During the same period in the previous year, the firm posted $0.02 EPS. The business’s revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts forecast that Kimbell Royalty will post 0.81 EPS for the current year.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 12.6%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 17th. Kimbell Royalty’s dividend payout ratio is currently 195.24%.

Hedge Funds Weigh In On Kimbell Royalty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgewealth Advisory Group LLC lifted its holdings in shares of Kimbell Royalty by 5.7% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock valued at $176,000 after purchasing an additional 810 shares during the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Kimbell Royalty by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company’s stock worth $2,270,000 after buying an additional 840 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of Kimbell Royalty by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock worth $243,000 after buying an additional 852 shares during the last quarter. Ruggaard & Associates LLC increased its position in Kimbell Royalty by 8.1% during the 2nd quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock valued at $178,000 after buying an additional 950 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its position in Kimbell Royalty by 4.2% during the 1st quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock valued at $362,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.