Kimbell Royalty Partners (NYSE:KRP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the company. Stephens reaffirmed an overweight rating and set a $11.00 target price on shares of Kimbell Royalty Partners in a research report on Friday, July 10th. SunTrust Banks reduced their price objective on Kimbell Royalty Partners from $10.00 to $9.00 and set a hold rating for the company in a research report on Monday, May 11th. TD Securities started coverage on Kimbell Royalty Partners in a research report on Tuesday, July 7th. They issued a buy rating and a $18.50 price objective for the company. Royal Bank of Canada reissued a buy rating and issued a $13.00 price objective on shares of Kimbell Royalty Partners in a research report on Sunday, July 26th. Finally, ValuEngine raised Kimbell Royalty Partners from a strong sell rating to a sell rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $13.73.

Shares of NYSE KRP opened at $8.73 on Wednesday. The stock has a market cap of $521.97 million, a price-to-earnings ratio of -1.81 and a beta of 2.26. The business has a 50 day simple moving average of $8.55 and a 200 day simple moving average of $9.22. Kimbell Royalty Partners has a 52 week low of $3.51 and a 52 week high of $17.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.77 and a current ratio of 8.77.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, May 7th. The energy company reported ($1.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($1.28). The firm had revenue of $35.95 million during the quarter, compared to the consensus estimate of $26.14 million. Kimbell Royalty Partners had a negative net margin of 91.23% and a positive return on equity of 5.97%. On average, analysts predict that Kimbell Royalty Partners will post -0.26 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.96%. Kimbell Royalty Partners’s payout ratio is 20.18%.

Several hedge funds and other institutional investors have recently modified their holdings of KRP. Alyeska Investment Group L.P. acquired a new position in shares of Kimbell Royalty Partners in the first quarter valued at $4,010,000. Renaissance Technologies LLC acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $1,710,000. Soros Fund Management LLC raised its stake in Kimbell Royalty Partners by 100.0% during the first quarter. Soros Fund Management LLC now owns 200,000 shares of the energy company’s stock worth $1,166,000 after acquiring an additional 100,000 shares in the last quarter. Invesco Ltd. raised its stake in Kimbell Royalty Partners by 107.3% during the first quarter. Invesco Ltd. now owns 135,016 shares of the energy company’s stock worth $787,000 after acquiring an additional 69,889 shares in the last quarter. Finally, TSP Capital Management Group LLC raised its stake in Kimbell Royalty Partners by 30.6% during the second quarter. TSP Capital Management Group LLC now owns 293,316 shares of the energy company’s stock worth $2,523,000 after acquiring an additional 68,750 shares in the last quarter. Institutional investors and hedge funds own 21.23% of the company’s stock.

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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