Kimbell Royalty Partners, LP (NYSE:KRP) Given Average Recommendation of "Hold" by Brokerages

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) has received a consensus recommendation of "Hold" from the five analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.80.

A number of research firms have recently issued reports on KRP. Bank of America cut their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 4th. Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their price objective for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Mizuho initiated coverage on shares of Kimbell Royalty Partners in a report on Monday. They issued a "neutral" rating and a $16.00 target price on the stock. Raymond James reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Royal Bank of Canada raised Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the sale, the insider now owns 49,263 shares of the company's stock, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by insiders.

Remove Ads

Institutional Investors Weigh In On Kimbell Royalty Partners

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Kimbell Royalty Partners by 13.7% during the 4th quarter. California State Teachers Retirement System now owns 59,276 shares of the energy company's stock valued at $962,000 after buying an additional 7,144 shares during the last quarter. AlphaCore Capital LLC raised its stake in Kimbell Royalty Partners by 0.9% in the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company's stock valued at $2,421,000 after acquiring an additional 1,350 shares during the period. Sunbelt Securities Inc. lifted its holdings in Kimbell Royalty Partners by 760.0% during the fourth quarter. Sunbelt Securities Inc. now owns 6,450 shares of the energy company's stock valued at $104,000 after purchasing an additional 5,700 shares during the last quarter. Vident Advisory LLC boosted its position in Kimbell Royalty Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company's stock worth $500,000 after purchasing an additional 1,747 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kimbell Royalty Partners by 14.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company's stock worth $10,511,000 after purchasing an additional 82,499 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Kimbell Royalty Partners Trading Up 0.7 %

NYSE KRP traded up $0.10 during trading hours on Monday, hitting $14.32. 373,679 shares of the company's stock were exchanged, compared to its average volume of 552,115. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.25 and a beta of 0.65. The stock has a 50-day simple moving average of $14.85 and a 200 day simple moving average of $15.60. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 1-year low of $13.24 and a 1-year high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's payout ratio is -1,454.55%.

Kimbell Royalty Partners Company Profile