Kimbell Royalty (NYSE:KRP) Rating Increased to Hold at Zacks Research

Kimbell Royalty (NYSE:KRP) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages also recently issued reports on KRP. Weiss Ratings raised shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Royal Bank Of Canada initiated coverage on shares of Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Kimbell Royalty Price Performance

Shares of NYSE:KRP opened at $14.93 on Tuesday. The firm has a market capitalization of $1.71 billion, a PE ratio of 17.77 and a beta of 0.31. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $14.88 and a two-hundred day moving average price of $14.78. Kimbell Royalty has a twelve month low of $11.31 and a twelve month high of $15.80.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. The company had revenue of $112.48 million for the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities analysts forecast that Kimbell Royalty will post 0.81 EPS for the current year.

Insider Transactions at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 4,524 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the completion of the transaction, the insider directly owned 70,639 shares in the company, valued at approximately $1,065,236.12. This represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kimbell Royalty

Hedge funds have recently bought and sold shares of the company. Hilltop National Bank bought a new position in Kimbell Royalty during the second quarter valued at approximately $44,000. Ascentis Independent Advisors purchased a new stake in shares of Kimbell Royalty in the 1st quarter valued at $60,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,250 shares during the last quarter. First Bancorp Inc ME purchased a new position in Kimbell Royalty in the 2nd quarter worth $90,000. Finally, Marex Group plc purchased a new position in Kimbell Royalty in the 4th quarter worth $118,000. 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.