Kimbell Royalty (KRP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties. Kimbell Royalty Partners, LP is based in Fort Worth, Texas. “

Separately, Royal Bank of Canada reissued a buy rating and issued a $19.00 price objective on shares of Kimbell Royalty in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $21.33.

Shares of Kimbell Royalty (NYSE KRP) traded down $0.01 during mid-day trading on Tuesday, reaching $16.30. The company had a trading volume of 15,200 shares, compared to its average volume of 11,233. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.08. Kimbell Royalty has a twelve month low of $15.06 and a twelve month high of $20.89.

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in Kimbell Royalty by 16.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the energy company’s stock worth $340,000 after purchasing an additional 2,968 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Kimbell Royalty by 12.3% during the second quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock worth $884,000 after acquiring an additional 5,765 shares during the last quarter. Royal Bank of Canada bought a new stake in shares of Kimbell Royalty during the second quarter worth $164,000. Signature Financial Management Inc. bought a new stake in shares of Kimbell Royalty during the third quarter worth $185,000. Finally, HITE Hedge Asset Management LLC raised its position in shares of Kimbell Royalty by 20.9% during the third quarter. HITE Hedge Asset Management LLC now owns 136,014 shares of the energy company’s stock worth $2,146,000 after acquiring an additional 23,524 shares during the last quarter. 21.82% of the stock is currently owned by institutional investors.

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Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.

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