Research analysts at Credit Suisse Group initiated coverage on shares of Kimbell Royalty Partners (NYSE:KRP) in a report released on Friday, The Fly reports. The firm set a “neutral” rating and a $21.00 price target on the energy company’s stock. Credit Suisse Group’s price target indicates a potential upside of 19.18% from the company’s current price.
Several other analysts have also recently weighed in on KRP. Stifel Nicolaus reissued a “buy” rating and set a $24.00 price objective (down from $25.00) on shares of Kimbell Royalty Partners in a report on Friday, August 10th. Zacks Investment Research cut Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, Raymond James boosted their price objective on Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 16th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Kimbell Royalty Partners has a consensus rating of “Buy” and a consensus target price of $23.60.
NYSE KRP traded down $0.39 on Friday, hitting $17.62. 81,911 shares of the company were exchanged, compared to its average volume of 80,950. The company has a market cap of $545.51 million, a price-to-earnings ratio of 135.54 and a beta of 1.04. The company has a quick ratio of 5.50, a current ratio of 5.50 and a debt-to-equity ratio of 0.32. Kimbell Royalty Partners has a 1-year low of $15.70 and a 1-year high of $24.50.
In related news, Director William H. Adams III purchased 10,000 shares of the stock in a transaction dated Monday, November 26th. The stock was bought at an average cost of $16.88 per share, with a total value of $168,800.00. Following the purchase, the director now directly owns 22,654 shares in the company, valued at approximately $382,399.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erik B. Daugbjerg purchased 7,500 shares of the stock in a transaction dated Wednesday, November 28th. The stock was bought at an average cost of $16.65 per share, with a total value of $124,875.00. Following the completion of the purchase, the director now owns 13,478 shares in the company, valued at $224,408.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,915 shares of company stock valued at $317,287 over the last three months. Company insiders own 14.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Trustcore Financial Services LLC increased its stake in shares of Kimbell Royalty Partners by 462.5% in the 3rd quarter. Trustcore Financial Services LLC now owns 11,250 shares of the energy company’s stock valued at $221,000 after acquiring an additional 9,250 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Kimbell Royalty Partners in the 3rd quarter valued at about $279,000. Raymond James & Associates bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $381,000. Luminus Management LLC bought a new stake in shares of Kimbell Royalty Partners in the 3rd quarter valued at about $359,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Kimbell Royalty Partners in the 3rd quarter valued at about $883,000. 35.56% of the stock is owned by institutional investors.
Kimbell Royalty Partners Company Profile
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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