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

Shares of Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) have been given an average recommendation of "Hold" by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.40.

KRP has been the subject of a number of research analyst reports. Mizuho began coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They set a "neutral" rating and a $16.00 price objective for the company. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Royal Bank of Canada upgraded Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th. KeyCorp reduced their target price on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Bank of America decreased their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 4th.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business's 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 directly owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several large investors have recently made changes to their positions in KRP. Barclays PLC boosted its position in shares of Kimbell Royalty Partners by 1,175.1% during the third quarter. Barclays PLC now owns 13,605 shares of the energy company's stock worth $219,000 after buying an additional 12,538 shares during the period. JPMorgan Chase & Co. grew its stake in Kimbell Royalty Partners by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company's stock worth $693,000 after purchasing an additional 17,029 shares in the last quarter. Nordea Investment Management AB increased its holdings in Kimbell Royalty Partners by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company's stock worth $1,801,000 after purchasing an additional 2,066 shares during the period. Hilltop National Bank acquired a new stake in Kimbell Royalty Partners in the 4th quarter valued at about $49,000. Finally, Mirador Capital Partners LP boosted its stake in shares of Kimbell Royalty Partners by 9.4% in the 4th quarter. Mirador Capital Partners LP now owns 57,828 shares of the energy company's stock valued at $939,000 after buying an additional 4,951 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Price Performance

KRP stock traded up $0.29 during mid-day trading on Friday, reaching $12.63. 320,622 shares of the company's stock were exchanged, compared to its average volume of 591,051. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners has a 12-month low of $10.98 and a 12-month high of $17.07. The stock's 50 day moving average is $13.59 and its 200 day moving average is $15.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were issued a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 12.67%. Kimbell Royalty Partners's payout ratio is -1,454.55%.

About Kimbell Royalty Partners