Kimbell Royalty Partners, LP (NYSE:KRP) Receives $20.50 Average Price Target from Brokerages

Posted by Cheyenne Larson on Nov 28th, 2024

Shares of Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.40.

A number of research analysts recently commented on KRP shares. Truist Financial reduced their target price on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. KeyCorp reduced their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

Read Our Latest Stock Report on Kimbell Royalty Partners

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

A number of institutional investors have recently modified their holdings of KRP. EverSource Wealth Advisors LLC purchased a new stake in shares of Kimbell Royalty Partners during the second quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in Kimbell Royalty Partners in the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after buying an additional 1,484 shares during the period. Godsey & Gibb Inc. lifted its holdings in Kimbell Royalty Partners by 62.9% in the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock worth $66,000 after buying an additional 1,580 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Kimbell Royalty Partners in the third quarter worth about $79,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Trading Up 0.6 %

Kimbell Royalty Partners stock opened at $16.00 on Monday. The stock has a market cap of $1.53 billion, a P/E ratio of 31.18, a PEG ratio of 1.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. Kimbell Royalty Partners has a fifty-two week low of $14.26 and a fifty-two week high of $17.07. The firm’s fifty day moving average price is $16.13 and its 200-day moving average price is $16.21.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities research analysts forecast that Kimbell Royalty Partners will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.25%. Kimbell Royalty Partners’s payout ratio is 321.57%.