Kimbell Royalty Partners (KRP) Price Target Raised to $30.00 at Raymond James
Kimbell Royalty Partners (NYSE:KRP) had its price target lifted by Raymond James from $29.00 to $30.00 in a research note issued to investors on Thursday. They currently have a strong-buy rating on the energy company’s stock.
Several other research firms have also recently weighed in on KRP. Stifel Nicolaus set a $25.00 price objective on shares of Kimbell Royalty Partners and gave the stock a buy rating in a research report on Monday, June 4th. Zacks Investment Research cut shares of Kimbell Royalty Partners from a hold rating to a sell rating in a research report on Wednesday, July 25th. Finally, Imperial Capital upped their price objective on shares of Kimbell Royalty Partners from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Wednesday, May 30th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Kimbell Royalty Partners has a consensus rating of Buy and a consensus target price of $24.50.
Shares of Kimbell Royalty Partners stock opened at $20.87 on Thursday. The stock has a market capitalization of $571.13 million, a PE ratio of 160.54 and a beta of 1.89. Kimbell Royalty Partners has a 52-week low of $15.26 and a 52-week high of $24.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.09 and a quick ratio of 6.09.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Monday, August 6th were given a dividend of $0.43 per share. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 3rd. This represents a $1.72 annualized dividend and a yield of 8.24%. Kimbell Royalty Partners’s dividend payout ratio is currently 1,323.08%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Yorktown Energy Partners X L.P. bought a new stake in Kimbell Royalty Partners during the second quarter worth about $20,382,000. Raymond James & Associates bought a new stake in Kimbell Royalty Partners during the second quarter worth about $381,000. Renaissance Technologies LLC bought a new stake in Kimbell Royalty Partners during the second quarter worth about $1,117,000. SG Capital Management LLC bought a new stake in Kimbell Royalty Partners during the second quarter worth about $1,366,000. Finally, Hollow Brook Wealth Management LLC lifted its position in Kimbell Royalty Partners by 74.8% during the first quarter. Hollow Brook Wealth Management LLC now owns 19,860 shares of the energy company’s stock worth $377,000 after purchasing an additional 8,500 shares during the period. 14.11% of the stock is owned by institutional investors and hedge funds.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
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