Brokerages Set Kimbell Royalty Partners, LP (NYSE:KRP) Price Target at $20.86

Kimbell Royalty Partners, LP (NYSE:KRP) has earned an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.86.

A number of analysts have recently weighed in on KRP shares. TD Securities reduced their price objective on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Truist Financial reduced their price objective on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Raymond James reduced their price objective on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, KeyCorp lowered their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th.

Kimbell Royalty Partners Price Performance

NYSE KRP opened at $16.09 on Friday. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.52 billion, a PE ratio of 17.49 and a beta of 1.08. The company has a 50 day moving average price of $15.65 and a two-hundred day moving average price of $15.49. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). The business had revenue of $99.20 million during the quarter, compared to analyst estimates of $83.89 million. Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. Kimbell Royalty Partners’s revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities analysts predict that Kimbell Royalty Partners will post 0.79 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date of this dividend was Tuesday, March 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 186.96%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the sale, the insider now owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the sale, the insider now owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brett G. Taylor sold 22,327 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $15.68, for a total transaction of $350,087.36. Following the completion of the sale, the director now directly owns 402,536 shares in the company, valued at approximately $6,311,764.48. The disclosure for this sale can be found here. Insiders have sold 100,672 shares of company stock valued at $1,571,185 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Large investors have recently made changes to their positions in the company. American Century Companies Inc. acquired a new position in Kimbell Royalty Partners during the 1st quarter worth about $719,000. US Bancorp DE acquired a new position in Kimbell Royalty Partners during the 1st quarter worth about $114,000. Vanguard Group Inc. lifted its position in Kimbell Royalty Partners by 35.8% during the 1st quarter. Vanguard Group Inc. now owns 207,439 shares of the energy company’s stock worth $3,373,000 after buying an additional 54,641 shares in the last quarter. First Trust Advisors LP lifted its position in Kimbell Royalty Partners by 2.7% during the 1st quarter. First Trust Advisors LP now owns 264,568 shares of the energy company’s stock worth $4,302,000 after buying an additional 6,875 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Kimbell Royalty Partners by 55.8% during the 1st quarter. Renaissance Technologies LLC now owns 333,300 shares of the energy company’s stock worth $5,419,000 after buying an additional 119,359 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners