Kimbell Royalty Partners (NYSE:KRP) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties. Kimbell Royalty Partners, LP is based in Fort Worth, Texas. “
Several other brokerages also recently weighed in on KRP. Stephens set a $23.00 target price on shares of Kimbell Royalty Partners and gave the company a buy rating in a report on Wednesday, May 22nd. Credit Suisse Group raised shares of Kimbell Royalty Partners from a neutral rating to an outperform rating and set a $20.00 target price on the stock in a report on Monday, May 13th. SunTrust Banks initiated coverage on shares of Kimbell Royalty Partners in a report on Monday, June 17th. They issued a hold rating and a $19.00 target price on the stock. UBS Group initiated coverage on shares of Kimbell Royalty Partners in a report on Friday, May 17th. They issued a buy rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus downgraded shares of Kimbell Royalty Partners from a buy rating to a hold rating and lowered their target price for the company from $19.00 to $18.00 in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Kimbell Royalty Partners has a consensus rating of Buy and a consensus target price of $20.63.
Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, August 8th. The energy company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.45. The business had revenue of $31.94 million for the quarter, compared to the consensus estimate of $27.75 million. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.96%. Research analysts anticipate that Kimbell Royalty Partners will post 0.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date was Friday, August 2nd. Kimbell Royalty Partners’s dividend payout ratio is currently -780.00%.
A number of hedge funds have recently added to or reduced their stakes in the stock. TSP Capital Management Group LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $673,000. Oppenheimer & Co. Inc. purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $1,688,000. JPMorgan Chase & Co. boosted its holdings in Kimbell Royalty Partners by 46.7% during the second quarter. JPMorgan Chase & Co. now owns 19,000 shares of the energy company’s stock worth $309,000 after buying an additional 6,050 shares in the last quarter. Arrow Investment Advisors LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $357,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $323,000. 48.69% of the stock is currently owned by hedge funds and other institutional investors.
Kimbell Royalty Partners Company Profile
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.
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