Kimbell Royalty (KRP) Receives New Coverage from Analysts at Imperial Capital
Analysts at Imperial Capital began coverage on shares of Kimbell Royalty (NYSE:KRP) in a note issued to investors on Tuesday. The firm set an “outperform” rating and a $20.00 price target on the energy company’s stock. Imperial Capital’s target price indicates a potential upside of 25.55% from the company’s current price.
Several other research firms have also recently issued reports on KRP. Zacks Investment Research upgraded Kimbell Royalty from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Royal Bank Of Canada increased their target price on Kimbell Royalty from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.20.
Shares of Kimbell Royalty (NYSE:KRP) opened at 15.93 on Tuesday. The company’s market cap is $260.17 million. The stock’s 50 day moving average price is $16.09 and its 200-day moving average price is $18.33. Kimbell Royalty has a 12 month low of $15.06 and a 12 month high of $20.89.
Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.06. The company had revenue of $7.75 million during the quarter, compared to analysts’ expectations of $7.87 million. Equities research analysts expect that Kimbell Royalty will post $0.28 earnings per share for the current year.
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In other news, Director Brett G. Taylor purchased 4,687 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average cost of $16.10 per share, with a total value of $75,460.70. Following the completion of the purchase, the director now owns 23,646 shares in the company, valued at $380,700.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitch S. Wynne purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average cost of $16.19 per share, with a total value of $32,380.00. Following the completion of the purchase, the director now owns 22,637 shares of the company’s stock, valued at approximately $366,493.03. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 11,459 shares of company stock valued at $183,572.
Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Kimbell Royalty by 7.2% in the second quarter. FMR LLC now owns 940,182 shares of the energy company’s stock worth $15,823,000 after buying an additional 63,550 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Kimbell Royalty during the first quarter worth approximately $13,766,000. Morgan Stanley purchased a new position in shares of Kimbell Royalty during the first quarter worth approximately $4,907,000. Wells Fargo & Company MN raised its position in shares of Kimbell Royalty by 14.7% in the second quarter. Wells Fargo & Company MN now owns 250,339 shares of the energy company’s stock worth $4,213,000 after buying an additional 32,000 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Kimbell Royalty during the first quarter worth approximately $2,194,000. 20.48% of the stock is owned by institutional investors.
About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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