Kimbell Royalty Partners LP (NYSE:KRP) Receives $20.57 Average PT from Brokerages

Shares of Kimbell Royalty Partners LP (NYSE:KRP) have received an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $20.57.

Several research analysts have recently issued reports on the company. Stifel Nicolaus downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, May 28th. Stephens set a $23.00 price objective on Kimbell Royalty Partners and gave the company a “buy” rating in a research note on Wednesday, May 22nd. TheStreet downgraded Kimbell Royalty Partners from a “c” rating to a “d+” rating in a research note on Friday, August 9th. UBS Group assumed coverage on Kimbell Royalty Partners in a research note on Friday, May 17th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, SunTrust Banks assumed coverage on Kimbell Royalty Partners in a research note on Monday, June 17th. They issued a “hold” rating and a $19.00 price objective for the company.

In other news, Director William H. Adams III acquired 5,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $14.60 per share, with a total value of $73,000.00. Following the completion of the purchase, the director now directly owns 108,005 shares of the company’s stock, valued at approximately $1,576,873. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in KRP. Needham Investment Management LLC acquired a new stake in Kimbell Royalty Partners during the 2nd quarter valued at approximately $162,000. Raymond James Trust N.A. acquired a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $167,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $195,000. Steward Partners Investment Advisory LLC acquired a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $226,000. Finally, Trustcore Financial Services LLC increased its position in Kimbell Royalty Partners by 42.8% during the 1st quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock valued at $293,000 after buying an additional 4,810 shares in the last quarter. 58.95% of the stock is owned by institutional investors and hedge funds.

Shares of KRP stock traded down $0.29 on Friday, reaching $14.13. The company had a trading volume of 100 shares, compared to its average volume of 32,292. The stock has a market capitalization of $334.24 million, a PE ratio of -71.15 and a beta of 1.47. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.13. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $23.48. The business’s 50-day moving average is $14.98 and its 200 day moving average is $16.62.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 8th. The energy company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.45. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.83%. The firm had revenue of $31.94 million during the quarter, compared to analysts’ expectations of $27.75 million. On average, sell-side analysts forecast that Kimbell Royalty Partners will post 0.83 earnings per share for the current fiscal year.

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, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

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Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

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