Kimbell Royalty (NYSE:KRP) Receives $18.00 Consensus PT from Brokerages

Shares of Kimbell Royalty (NYSE:KRP) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $18.00.

Several research firms recently issued reports on KRP. Citigroup lifted their price objective on shares of Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada initiated coverage on Kimbell Royalty in a research report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Weiss Ratings downgraded Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Kimbell Royalty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRP. Bridgewealth Advisory Group LLC lifted its stake in shares of Kimbell Royalty by 5.7% in the fourth quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock worth $176,000 after buying an additional 810 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Kimbell Royalty by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company’s stock worth $2,270,000 after buying an additional 840 shares during the period. Centaurus Financial Inc. grew its stake in Kimbell Royalty by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock valued at $243,000 after buying an additional 852 shares during the last quarter. Ruggaard & Associates LLC grew its stake in Kimbell Royalty by 8.1% in the 2nd quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock valued at $178,000 after buying an additional 950 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in Kimbell Royalty by 4.2% in the 1st quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock worth $362,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Trading Down 1.5%

NYSE:KRP opened at $14.95 on Friday. The company has a market capitalization of $1.61 billion, a P/E ratio of 32.49 and a beta of 0.29. The stock’s 50 day moving average price is $14.95 and its 200 day moving average price is $14.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.80.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.19). The business had revenue of $65.54 million during the quarter, compared to analyst estimates of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. Kimbell Royalty’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. On average, research analysts forecast that Kimbell Royalty will post 0.81 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a $0.41 dividend. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, May 19th. This represents a $1.64 annualized dividend and a yield of 11.0%. Kimbell Royalty’s dividend payout ratio is presently 356.52%.

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.