Credit Suisse Group initiated coverage on shares of Kimbell Royalty Partners (NYSE:KRP) in a research note published on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $21.00 price objective on the energy company’s stock.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Kimbell Royalty Partners from a buy rating to a hold rating in a research note on Wednesday, November 14th. Stifel Nicolaus lowered shares of Kimbell Royalty Partners from a buy rating to a hold rating and set a $19.00 target price on the stock. in a research report on Friday, November 9th. Finally, Raymond James raised their target price on shares of Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a strong-buy rating in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $23.60.
NYSE KRP traded down $0.41 during trading on Friday, hitting $17.21. The stock had a trading volume of 27,197 shares, compared to its average volume of 74,973. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.50 and a quick ratio of 5.50. The company has a market cap of $533.69 million, a P/E ratio of 160.18 and a beta of 1.04. Kimbell Royalty Partners has a one year low of $15.70 and a one year high of $24.50.
Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, November 8th. The energy company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.29). The firm had revenue of $18.41 million during the quarter, compared to the consensus estimate of $22.48 million. Kimbell Royalty Partners had a positive return on equity of 0.23% and a negative net margin of 108.86%. As a group, equities research analysts expect that Kimbell Royalty Partners will post 0.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 12th. Stockholders of record on Monday, November 5th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 2nd. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.46%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 1,384.62%.
In other news, Director Erik B. Daugbjerg purchased 7,500 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were acquired at an average cost of $16.65 per share, with a total value of $124,875.00. Following the completion of the acquisition, the director now owns 13,478 shares of the company’s stock, valued at $224,408.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Adams III purchased 10,000 shares of the business’s stock in a transaction on Monday, November 26th. The stock was purchased at an average cost of $16.88 per share, for a total transaction of $168,800.00. Following the completion of the acquisition, the director now directly owns 22,654 shares of the company’s stock, valued at approximately $382,399.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 18,915 shares of company stock worth $317,287. Corporate insiders own 14.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Kimbell Royalty Partners by 21.8% during the third quarter. FMR LLC now owns 1,095,426 shares of the energy company’s stock worth $21,492,000 after buying an additional 196,100 shares during the period. Yorktown Energy Partners X L.P. acquired a new stake in shares of Kimbell Royalty Partners during the second quarter worth $20,382,000. Wells Fargo & Company MN lifted its stake in shares of Kimbell Royalty Partners by 25.1% during the third quarter. Wells Fargo & Company MN now owns 315,204 shares of the energy company’s stock worth $6,185,000 after buying an additional 63,242 shares during the period. Putnam Investments LLC lifted its stake in shares of Kimbell Royalty Partners by 92.1% during the third quarter. Putnam Investments LLC now owns 261,641 shares of the energy company’s stock worth $5,133,000 after buying an additional 125,465 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in shares of Kimbell Royalty Partners during the third quarter worth $4,905,000. Institutional investors and hedge funds own 35.56% of the company’s stock.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
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