Kimbell Royalty Partners (KRP) Downgraded by Stifel Nicolaus to “Hold”

Stifel Nicolaus downgraded shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has $19.00 price target on the energy company’s stock.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Kimbell Royalty Partners from a hold rating to a sell rating in a research report on Wednesday, July 25th. Raymond James raised their target price on shares of Kimbell Royalty Partners from $29.00 to $30.00 and gave the company a strong-buy rating in a research report on Thursday, August 16th.

Shares of KRP stock traded down $0.64 during trading hours on Friday, hitting $17.90. 205,394 shares of the company were exchanged, compared to its average volume of 61,004. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. Kimbell Royalty Partners has a 52 week low of $15.70 and a 52 week high of $24.50. The company has a market capitalization of $499.74 million, a price-to-earnings ratio of 137.69 and a beta of 1.10.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 8th. The energy company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.29). The business had revenue of $18.41 million during the quarter, compared to the consensus estimate of $22.48 million. Kimbell Royalty Partners had a negative net margin of 126.81% and a positive return on equity of 1.93%. On average, equities analysts expect that Kimbell Royalty Partners will post 0.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 12th. Investors of record on Monday, November 5th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 10.06%. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 1,384.62%.

In other Kimbell Royalty Partners news, Director Erik B. Daugbjerg bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average price of $22.14 per share, with a total value of $55,350.00. Following the completion of the transaction, the director now owns 7,978 shares in the company, valued at $176,632.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik B. Daugbjerg bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was acquired at an average cost of $22.52 per share, with a total value of $33,780.00. Following the transaction, the director now owns 4,978 shares of the company’s stock, valued at approximately $112,104.56. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,500 shares of company stock valued at $121,160. 14.20% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in KRP. Trustcore Financial Services LLC grew its position in Kimbell Royalty Partners by 462.5% in the third quarter. Trustcore Financial Services LLC now owns 11,250 shares of the energy company’s stock valued at $221,000 after purchasing an additional 9,250 shares in the last quarter. Raymond James & Associates acquired a new stake in Kimbell Royalty Partners in the second quarter valued at $381,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in Kimbell Royalty Partners in the third quarter valued at $883,000. BlackRock Inc. acquired a new stake in Kimbell Royalty Partners in the third quarter valued at $981,000. Finally, Renaissance Technologies LLC acquired a new stake in Kimbell Royalty Partners in the second quarter valued at $1,117,000. 17.34% 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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