Kimbell Royalty (NYSE:KRP) Receives $18.00 Consensus Target Price from Analysts

Shares of Kimbell Royalty (NYSE:KRP) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $18.00.

Several equities analysts have issued reports on KRP shares. KeyCorp raised Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a report on Thursday, April 2nd. Mizuho dropped their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Royal Bank Of Canada started coverage on Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Finally, Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th.

Insider Activity

In related news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.48, for a total transaction of $95,698.32. Following the transaction, the insider owned 75,163 shares of the company’s stock, valued at $1,088,360.24. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ascentis Independent Advisors purchased a new position in shares of Kimbell Royalty during the first quarter worth about $60,000. State of Wyoming purchased a new position in shares of Kimbell Royalty during the third quarter worth about $62,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kimbell Royalty by 29.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after buying an additional 1,250 shares during the last quarter. Marex Group plc purchased a new position in shares of Kimbell Royalty during the fourth quarter worth about $118,000. Finally, Sowell Financial Services LLC purchased a new position in shares of Kimbell Royalty during the fourth quarter worth about $120,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Stock Performance

Shares of KRP stock opened at $15.33 on Friday. The stock’s 50-day moving average is $14.81 and its two-hundred day moving average is $13.69. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 33.32 and a beta of 0.29. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings data on Thursday, May 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.19). The firm had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. Analysts predict that Kimbell Royalty will post 1.04 earnings per share for the current year.

Kimbell Royalty declared that its board has initiated a share buyback program on Monday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the energy company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a dividend of $0.41 per share. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Kimbell Royalty’s dividend payout ratio is 356.52%.

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.