Kimbell Royalty (NYSE:KRP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Kimbell Royalty (NYSE:KRP) have been given a consensus rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.6667.

Several research analysts have recently issued reports on the company. Mizuho decreased their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Citigroup increased their price objective on Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings raised Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a report on Monday, November 24th.

Hedge Funds Weigh In On Kimbell Royalty

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new stake in shares of Kimbell Royalty in the 3rd quarter worth approximately $62,000. EverSource Wealth Advisors LLC increased its position in Kimbell Royalty by 29.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock valued at $64,000 after buying an additional 1,250 shares in the last quarter. Marex Group plc purchased a new position in Kimbell Royalty during the fourth quarter valued at $118,000. Sowell Financial Services LLC bought a new stake in Kimbell Royalty in the fourth quarter worth $120,000. Finally, Tableaux LLC purchased a new stake in shares of Kimbell Royalty in the fourth quarter worth $120,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Trading Up 1.4%

Shares of KRP opened at $14.72 on Monday. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $15.12. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $13.49 and its 200-day moving average price is $13.16. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 3.69 and a beta of 0.30.

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

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 18th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 10.1%. Kimbell Royalty’s payout ratio is presently 225.81%.

Kimbell Royalty announced that its board has approved a stock repurchase program on Monday, March 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the energy company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.