Kimbell Royalty Partners (NYSE:KRP) Shares Gap Up After Analyst Upgrade

Kimbell Royalty Partners, LP (NYSE:KRP)’s share price gapped up before the market opened on Thursday after Raymond James raised their price target on the stock from $19.00 to $23.00. The stock had previously closed at $15.86, but opened at $16.21. Raymond James currently has a strong-buy rating on the stock. Kimbell Royalty Partners shares last traded at $15.94, with a volume of 1,613,045 shares.

A number of other analysts have also weighed in on KRP. KeyCorp lowered their target price on 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 upped their target price 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 investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

Insider Activity

In other news, insider Blayne Rhynsburger sold 5,000 shares of the 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 sale, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently made changes to their positions in KRP. EverSource Wealth Advisors LLC acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,484 shares during the period. Hilltop National Bank acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at $49,000. Godsey & Gibb Inc. increased its position in shares of Kimbell Royalty Partners by 62.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock valued at $66,000 after acquiring an additional 1,580 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in Kimbell Royalty Partners during the 3rd quarter worth about $79,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Price Performance

The firm has a 50-day simple moving average of $15.89 and a two-hundred day simple moving average of $16.03. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 8.13 and a beta of 1.10. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating 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 analysts’ expectations of $80.03 million. During the same period last year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, analysts predict that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 321.57%.

About Kimbell Royalty Partners