Kimbell Royalty (NYSE:KRP) Stock Now Rated “Buy” by Wall Street Brokerages

Kimbell Royalty (NYSE:KRP) has earned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.25.

KRP has been the subject of a number of analyst reports. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 30th. Weiss Ratings upgraded Kimbell Royalty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Finally, KeyCorp increased their target price on shares of Kimbell Royalty from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th.

Kimbell Royalty Stock Down 0.0%

Shares of NYSE:KRP opened at $16.87 on Tuesday. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 20.09 and a beta of 0.44. The stock’s 50-day moving average price is $15.31 and its two-hundred day moving average price is $14.73. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $17.12.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $93.45 million. During the same period in the previous year, the company posted $0.02 EPS. The company’s revenue was up 29.9% compared to the same quarter last year. On average, research analysts forecast that Kimbell Royalty will post 1.10 EPS for the current year.

Kimbell Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Monday, August 17th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.41. Kimbell Royalty’s payout ratio is currently 223.81%.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total transaction of $68,221.92. Following the completion of the sale, the insider directly owned 70,639 shares in the company, valued at $1,065,236.12. The trade was a 6.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by company insiders.

Institutional Trading of Kimbell Royalty

Several large investors have recently added to or reduced their stakes in the business. Next Level Wealth Planning LLC acquired a new stake in Kimbell Royalty in the 3rd quarter worth approximately $39,000. MGO One Seven LLC grew its position in Kimbell Royalty by 7.5% in the 3rd quarter. MGO One Seven LLC now owns 25,078 shares of the energy company’s stock worth $358,000 after purchasing an additional 1,746 shares during the last quarter. State of Wyoming increased its stake in Kimbell Royalty by 155.9% during the third quarter. State of Wyoming now owns 23,708 shares of the energy company’s stock valued at $339,000 after acquiring an additional 14,442 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Kimbell Royalty by 30.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 53,500 shares of the energy company’s stock valued at $764,000 after purchasing an additional 12,600 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in shares of Kimbell Royalty in the 3rd quarter valued at $305,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP (NYSE: KRP) is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.