Kimbell Royalty (NYSE:KRP) Receives $18.00 Average Target Price from Analysts

Kimbell Royalty (NYSE:KRP) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of research firms recently commented on KRP. Weiss Ratings upgraded Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Royal Bank Of Canada initiated coverage on Kimbell Royalty in a research note on Friday, May 29th. They set an “outperform” rating and a $20.00 target price for the company. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised Kimbell Royalty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st.

Insider Buying and Selling

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 4,524 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total transaction of $68,221.92. Following the completion of the transaction, the insider owned 70,639 shares of the company’s stock, valued at $1,065,236.12. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Kimbell Royalty by 32.6% in the 1st quarter. Royal Bank of Canada now owns 371,582 shares of the energy company’s stock worth $5,202,000 after acquiring an additional 91,263 shares during the last quarter. Jane Street Group LLC acquired a new stake in Kimbell Royalty in the 1st quarter valued at approximately $297,000. Legal & General Group Plc increased its holdings in Kimbell Royalty by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 67,890 shares of the energy company’s stock valued at $948,000 after purchasing an additional 9,987 shares during the last quarter. First Trust Advisors LP increased its holdings in Kimbell Royalty by 8.6% in the 2nd quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock valued at $6,489,000 after purchasing an additional 36,803 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Kimbell Royalty in the second quarter valued at approximately $1,220,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Stock Up 0.4%

Shares of NYSE:KRP opened at $15.17 on Monday. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80. The stock has a market cap of $1.74 billion, a P/E ratio of 18.06 and a beta of 0.31. The business has a fifty day moving average of $14.91 and a two-hundred day moving average of $14.81. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.71.

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

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 17th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 dividend on an annualized basis and a yield of 12.4%. Kimbell Royalty’s dividend payout ratio is currently 223.81%.

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.