Kimbell Royalty Partners (NYSE:KRP) Price Target Raised to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its target price boosted by KeyCorp from $20.00 to $21.00 in a research note issued to investors on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the energy company’s stock.

Other research analysts have also recently issued reports about the stock. Raymond James lowered their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Truist Financial lowered their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a buy rating for the company in a research report on Friday, April 5th. Finally, TD Securities reduced their price objective on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $21.00.

Kimbell Royalty Partners Trading Up 0.6 %

Shares of NYSE KRP opened at $16.04 on Monday. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11. The stock has a market cap of $1.52 billion, a P/E ratio of 17.43 and a beta of 1.08. The firm has a 50-day moving average of $15.69 and a 200 day moving average of $15.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The business had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $83.89 million. During the same period last year, the business earned $0.48 earnings per share. The company’s revenue was up 44.4% on a year-over-year basis. As a group, sell-side analysts expect that Kimbell Royalty Partners will post 0.91 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.43 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.72 dividend on an annualized basis and a yield of 10.72%. Kimbell Royalty Partners’s dividend payout ratio is currently 186.96%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 27,163 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the sale, the director now directly owns 299,030 shares in the company, valued at approximately $4,637,955.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Blayne Rhynsburger sold 6,487 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares in the company, valued at $860,558.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brett G. Taylor sold 27,163 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the sale, the director now owns 299,030 shares of the company’s stock, valued at $4,637,955.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,672 shares of company stock worth $1,571,185. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kimbell Royalty Partners

A number of large investors have recently made changes to their positions in KRP. Godsey & Gibb Inc. grew its stake in shares of Kimbell Royalty Partners by 433.3% in the third quarter. Godsey & Gibb Inc. now owns 1,600 shares of the energy company’s stock worth $26,000 after acquiring an additional 1,300 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of Kimbell Royalty Partners in the third quarter worth approximately $48,000. Barclays PLC bought a new stake in Kimbell Royalty Partners during the second quarter valued at approximately $155,000. National Bank of Canada FI grew its position in Kimbell Royalty Partners by 29.6% during the third quarter. National Bank of Canada FI now owns 10,962 shares of the energy company’s stock valued at $171,000 after buying an additional 2,501 shares during the period. Finally, Annandale Capital LLC grew its position in Kimbell Royalty Partners by 8.1% during the third quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after buying an additional 850 shares during the period. 25.78% of the stock is currently owned by institutional investors.

About Kimbell Royalty Partners