Kimbell Royalty Partners, LP (NYSE:KRP) Receives Consensus Recommendation of “Hold” from Analysts

Kimbell Royalty Partners, LP (NYSE:KRP) has earned a consensus rating of “Hold” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.40.

Several equities research analysts have recently issued reports on KRP shares. Bank of America reduced their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, March 4th. KeyCorp lowered their price target on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Monday. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Mizuho assumed coverage on shares of Kimbell Royalty Partners in a report on Monday, March 31st. They set a “neutral” rating and a $16.00 price target on the stock.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $12.29 on Friday. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a twelve month low of $10.98 and a twelve month high of $17.07. The business has a 50-day moving average price of $13.72 and a 200-day moving average price of $15.17. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 13.02%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares of the company’s stock, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new position in Kimbell Royalty Partners in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new position in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $32,000. Bessemer Group Inc. purchased a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in Kimbell Royalty Partners in the first quarter valued at approximately $34,000. Finally, Lowe Wealth Advisors LLC purchased a new position in Kimbell Royalty Partners in the first quarter worth $34,000. 25.78% of the stock is owned by institutional investors.

About Kimbell Royalty Partners