Analysts Set Kimbell Royalty (NYSE:KRP) Price Target at $17.40

Shares of Kimbell Royalty (NYSE:KRP) have received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.40.

KRP has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kimbell Royalty in a report on Monday. Zacks Research raised Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Mizuho increased their price objective on Kimbell Royalty from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a report on Monday, November 24th.

Kimbell Royalty Stock Performance

NYSE:KRP opened at $12.03 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.39 and a current ratio of 5.39. The stock has a market capitalization of $1.30 billion, a PE ratio of -171.79 and a beta of 0.33. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $16.59. The company has a fifty day moving average of $12.58 and a two-hundred day moving average of $13.46.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, November 6th. The energy company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Kimbell Royalty had a net margin of 10.66% and a return on equity of 12.51%. The business had revenue of $80.62 million during the quarter, compared to analysts’ expectations of $82.68 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 11.6%. The ex-dividend date of this dividend was Monday, November 17th. Kimbell Royalty’s dividend payout ratio (DPR) is currently -2,000.00%.

Institutional Trading of Kimbell Royalty

Several large investors have recently bought and sold shares of KRP. Adage Capital Partners GP L.L.C. increased its stake in Kimbell Royalty by 604.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock worth $23,683,000 after acquiring an additional 1,451,666 shares during the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Kimbell Royalty during the 1st quarter worth about $6,300,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Kimbell Royalty during the 2nd quarter worth about $5,445,000. CIBC Bancorp USA Inc. purchased a new stake in Kimbell Royalty in the 3rd quarter valued at about $3,472,000. Finally, American Century Companies Inc. lifted its position in Kimbell Royalty by 9.2% in the third quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock valued at $40,827,000 after buying an additional 255,688 shares during the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.