Zacks Research Upgrades Kimbell Royalty (NYSE:KRP) to “Hold”

Kimbell Royalty (NYSE:KRP) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

KRP has been the topic of a number of other reports. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Kimbell Royalty Price Performance

Shares of NYSE:KRP opened at $14.93 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30. The business’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $14.78. The stock has a market cap of $1.71 billion, a PE ratio of 17.77 and a beta of 0.31. Kimbell Royalty has a one year low of $11.31 and a one year high of $15.80.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The company had revenue of $112.48 million during the quarter, compared to analysts’ expectations of $93.45 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts forecast that Kimbell Royalty will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, insider Blayne Rhynsburger sold 4,524 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total value of $68,221.92. Following the completion of the sale, the insider directly owned 70,639 shares in the company, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Kimbell Royalty by 32.6% during the 1st quarter. Royal Bank of Canada now owns 371,582 shares of the energy company’s stock valued at $5,202,000 after buying an additional 91,263 shares during the period. Jane Street Group LLC purchased a new position in shares of Kimbell Royalty in the 1st quarter worth $297,000. Legal & General Group Plc raised its position in shares of Kimbell Royalty by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 67,890 shares of the energy company’s stock worth $948,000 after buying an additional 9,987 shares during the period. First Trust Advisors LP boosted its holdings in Kimbell Royalty by 8.6% in the second quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock valued at $6,489,000 after acquiring an additional 36,803 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Kimbell Royalty in the second quarter valued at $1,220,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.