Kimbell Royalty Partners (NYSE:KRP) PT Raised to $21.00

Posted by Joseph Casey on Apr 24th, 2024

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) had its price target hoisted by equities research analysts at KeyCorp from $20.00 to $21.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price objective suggests a potential upside of 31.25% from the company’s previous close.

KRP has been the topic of several other research reports. TD Securities cut their price target on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Truist Financial reduced their target price on 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. Finally, Raymond James dropped their price target 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kimbell Royalty Partners has a consensus rating of “Buy” and a consensus price target of $21.00.

View Our Latest Stock Report on KRP

Kimbell Royalty Partners Stock Up 0.8 %

Shares of NYSE KRP opened at $16.00 on Monday. The company has a market cap of $1.52 billion, a P/E ratio of 17.40 and a beta of 1.08. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11. The stock has a fifty day moving average price of $15.66 and a 200 day moving average price of $15.50.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The firm had revenue of $99.20 million for the quarter, compared to analyst estimates of $83.89 million. During the same period in the previous year, the business posted $0.48 earnings per share. Kimbell Royalty Partners’s revenue for the quarter was up 44.4% on a year-over-year basis. Research analysts anticipate that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 6,487 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Brett G. Taylor sold 16,889 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.71, for a total transaction of $265,326.19. Following the completion of the transaction, the director now directly owns 326,193 shares in the company, valued at approximately $5,124,492.03. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares in the company, valued at $860,558.40. The disclosure for this sale can be found here. Insiders sold a total of 100,672 shares of company stock valued at $1,571,185 over the last 90 days. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently modified their holdings of KRP. Mirae Asset Global Investments Co. Ltd. acquired a new position in Kimbell Royalty Partners during the 3rd quarter valued at about $7,105,000. First Financial Bankshares Inc acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $4,200,000. Mill Road Capital Management LLC grew its holdings in Kimbell Royalty Partners by 14.8% in the 4th quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after buying an additional 243,761 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in Kimbell Royalty Partners in the 1st quarter valued at approximately $2,733,000. Finally, Westwood Holdings Group Inc. acquired a new stake in Kimbell Royalty Partners in the 4th quarter valued at approximately $2,230,000. Institutional investors and hedge funds own 25.78% of the company’s stock.