Raymond James Issues Positive Forecast for Kimbell Royalty Partners (NYSE:KRP) Stock Price

Kimbell Royalty Partners (NYSE:KRP) had its price objective raised by research analysts at Raymond James from $19.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the energy company’s stock. Raymond James’ price target would indicate a potential upside of 43.93% from the company’s previous close.

Several other analysts also recently commented on the stock. KeyCorp reduced their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lifted their price target on Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Kimbell Royalty Partners Stock Up 0.8 %

NYSE:KRP traded up $0.12 on Thursday, hitting $15.98. 1,808,773 shares of the company’s stock were exchanged, compared to its average volume of 1,189,696. The company has a market cap of $1.53 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 8.37 and a beta of 1.10. Kimbell Royalty Partners has a 52 week low of $14.57 and a 52 week high of $17.07. The firm has a 50-day moving average price of $15.90 and a 200-day moving average price of $16.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The business’s revenue was up 24.7% compared to the same quarter last year. As a group, analysts expect that Kimbell Royalty Partners will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Accordant Advisory Group Inc raised its position in Kimbell Royalty Partners by 10.3% in the fourth quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after purchasing an additional 19,716 shares during the last quarter. Mirador Capital Partners LP boosted its position in Kimbell Royalty Partners by 9.4% during the 4th quarter. Mirador Capital Partners LP now owns 57,828 shares of the energy company’s stock worth $939,000 after buying an additional 4,951 shares during the period. Hilltop National Bank bought a new stake in Kimbell Royalty Partners during the 4th quarter worth approximately $49,000. Nordea Investment Management AB increased its position in Kimbell Royalty Partners by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock valued at $1,801,000 after acquiring an additional 2,066 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Kimbell Royalty Partners by 65.4% during the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock valued at $693,000 after acquiring an additional 17,029 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Company Profile