Kimbell Royalty (NYSE:KRP) Upgraded at Zacks Research

Kimbell Royalty (NYSE:KRP) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

KRP has been the subject of several other reports. Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings raised Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Finally, KeyCorp lifted their target price on shares of Kimbell Royalty from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

Kimbell Royalty Price Performance

Shares of NYSE KRP opened at $14.44 on Wednesday. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.80. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.19 and a beta of 0.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30. The stock’s 50-day moving average is $14.84 and its two-hundred day moving average is $14.83.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data 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. The business had revenue of $112.48 million during the quarter, compared to analysts’ expectations of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. Analysts forecast that Kimbell Royalty will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Kimbell Royalty by 329.4% during the second quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company’s stock valued at $52,713,000 after buying an additional 2,783,040 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Kimbell Royalty by 32.0% during the 1st quarter. Royal Bank of Canada now owns 596,687 shares of the energy company’s stock valued at $8,634,000 after purchasing an additional 144,644 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Kimbell Royalty in the second quarter worth about $8,432,000. Arrowstreet Capital Limited Partnership acquired a new stake in Kimbell Royalty in the 1st quarter worth approximately $7,405,000. Finally, Oxbow Advisors LLC acquired a new stake in shares of Kimbell Royalty in the second quarter worth $5,928,000. 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.