Kimbell Royalty (NYSE:KRP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Kimbell Royalty (NYSE:KRP) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.00.

A number of equities research analysts have recently issued reports on the stock. KeyCorp raised shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Thursday, April 2nd. Citigroup boosted their price target on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a research report on Friday, May 29th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Weiss Ratings cut Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Kimbell Royalty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in 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 purchasing an additional 91,263 shares during the period. Jane Street Group LLC purchased a new stake in shares of Kimbell Royalty during the first quarter valued at approximately $297,000. Legal & General Group Plc boosted its stake in shares of Kimbell Royalty by 17.2% during the second 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 period. First Trust Advisors LP boosted its stake in shares of Kimbell Royalty by 8.6% during the second 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 period. Finally, Jump Financial LLC bought a new position in shares of Kimbell Royalty in the second quarter worth approximately $1,220,000. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Stock Up 1.3%

Shares of KRP opened at $14.99 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of 32.59 and a beta of 0.29. The stock has a 50 day simple moving average of $14.97 and a two-hundred day simple moving average of $14.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.80.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.19). The business had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The company’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.20 earnings per share. On average, analysts forecast that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a dividend of $0.41 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.64 annualized dividend and a yield of 10.9%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is currently 356.52%.

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.