Citigroup Increases Kimbell Royalty (NYSE:KRP) Price Target to $17.00

Kimbell Royalty (NYSE:KRP) had its price target raised by stock analysts at Citigroup from $15.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Citigroup’s target price would indicate a potential upside of 17.97% from the stock’s current price.

Other research analysts have also issued reports about the company. Mizuho lowered their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp reiterated a “sector weight” rating on shares of Kimbell Royalty in a report on Monday, November 24th. Finally, Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.67.

Kimbell Royalty Trading Up 2.1%

NYSE:KRP traded up $0.29 during mid-day trading on Wednesday, hitting $14.41. 331,105 shares of the company’s stock were exchanged, compared to its average volume of 653,344. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $15.12. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.55 billion, a P/E ratio of 23.24, a PEG ratio of 3.62 and a beta of 0.30. The company has a 50 day simple moving average of $13.32 and a 200-day simple moving average of $13.15.

Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $82.45 million during the quarter, compared to analysts’ expectations of $76.78 million. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) EPS. As a group, research analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty announced that its board has approved a stock repurchase program on Monday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the energy company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Kimbell Royalty

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of Kimbell Royalty in the third quarter worth approximately $62,000. EverSource Wealth Advisors LLC grew its holdings in Kimbell Royalty by 29.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after buying an additional 1,250 shares in the last quarter. Marex Group plc purchased a new stake in Kimbell Royalty in the 4th quarter valued at $118,000. Sowell Financial Services LLC purchased a new stake in Kimbell Royalty in the 4th quarter valued at $120,000. Finally, Tableaux LLC bought a new position in Kimbell Royalty during the 4th quarter valued at $120,000. Institutional investors and hedge funds 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.