Kimbell Royalty (NYSE:KRP) Price Target Raised to $17.00 at Citigroup

Kimbell Royalty (NYSE:KRP) had its target price raised by stock analysts at Citigroup from $15.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Citigroup’s price objective would indicate a potential upside of 17.97% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Mizuho reduced their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Zacks Research lowered shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Weiss Ratings upgraded shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a research note on Monday, November 24th. Finally, Wall Street Zen cut shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.67.

Kimbell Royalty Stock Up 2.1%

KRP stock traded up $0.29 during trading on Wednesday, reaching $14.41. The stock had a trading volume of 331,105 shares, compared to its average volume of 653,344. Kimbell Royalty has a one year low of $10.98 and a one year high of $15.12. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $13.32 and its two-hundred day moving average is $13.15. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 3.62 and a beta of 0.30.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $82.45 million for the quarter, compared to the consensus estimate of $76.78 million. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. Equities research analysts forecast that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty announced that its board has authorized a share buyback program on Monday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Kimbell Royalty

Large investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in Kimbell Royalty in the 3rd quarter worth about $62,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kimbell Royalty by 29.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after purchasing an additional 1,250 shares in the last quarter. Marex Group plc bought a new position in shares of Kimbell Royalty in the fourth quarter worth approximately $118,000. Sowell Financial Services LLC bought a new position in shares of Kimbell Royalty in the fourth quarter worth approximately $120,000. Finally, Tableaux LLC purchased a new stake in Kimbell Royalty in the fourth quarter valued at approximately $120,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

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.