Kimbell Royalty (NYSE:KRP) Stock Has Consensus Target Price of $18.25 According to Analysts

Shares of Kimbell Royalty (NYSE:KRP) have received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $18.25.

A number of equities research analysts have recently weighed in on KRP shares. KeyCorp boosted their price objective on shares of Kimbell Royalty from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. Zacks Research upgraded shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th.

Kimbell Royalty Stock Performance

Shares of NYSE KRP opened at $14.60 on Friday. The stock’s 50-day moving average is $14.84 and its 200 day moving average is $14.83. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.38 and a beta of 0.44. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.80. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.71.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The business had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Kimbell Royalty’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, sell-side analysts anticipate that Kimbell Royalty will post 1.1 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.47 dividend. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 annualized dividend and a dividend yield of 12.9%. The ex-dividend date was Monday, August 17th. Kimbell Royalty’s dividend payout ratio (DPR) is presently 223.81%.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 4,524 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the completion of the sale, the insider owned 70,639 shares of the company’s stock, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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 KRP. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Kimbell Royalty during the second quarter valued at approximately $594,000. Arrowstreet Capital Limited Partnership purchased a new stake in Kimbell Royalty during the 1st quarter valued at $7,405,000. Hsbc Holdings PLC boosted its position in Kimbell Royalty by 441.0% during the 1st quarter. Hsbc Holdings PLC now owns 84,476 shares of the energy company’s stock valued at $1,236,000 after buying an additional 68,861 shares during the period. Oxbow Advisors LLC bought a new stake in Kimbell Royalty in the 2nd quarter worth $5,928,000. Finally, Pingora Partners LLC grew its holdings in Kimbell Royalty by 267.0% in the 4th quarter. Pingora Partners LLC now owns 98,076 shares of the energy company’s stock worth $1,153,000 after acquiring an additional 71,350 shares during the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty

Kimbell Royalty Partners, LP (NYSE:KRP) is a publicly traded oil and gas mineral and royalty company headquartered in Fort Worth, Texas. The partnership owns and acquires mineral, royalty, overriding royalty and other non-cost-bearing interests in oil and natural gas properties across the United States.

Kimbell’s interests are located primarily in major onshore producing regions, including the Permian, Eagle Ford, Bakken, Haynesville, Mid-Continent and Rocky Mountain basins. Because royalty interests generally do not require the owner to fund drilling, completion or operating expenses, the company’s business model is focused on receiving a share of production revenues from wells operated by exploration and production companies.

The company was formed in 2015 and completed its initial public offering in 2017.