Kimbell Royalty Partners, LP (NYSE:KRP) Receives Average Recommendation of "Moderate Buy" from Brokerages

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.50.

A number of analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a "buy" rating for the company in a report on Monday, September 30th. KeyCorp reduced their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the sale, the insider now owns 50,164 shares of the company's stock, valued at approximately $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KRP. Ridgemont Partners Management LLC acquired a new position in shares of Kimbell Royalty Partners in the second quarter worth $96,372,000. American Century Companies Inc. grew its holdings in Kimbell Royalty Partners by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company's stock valued at $24,673,000 after buying an additional 260,332 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company's stock valued at $19,882,000 after acquiring an additional 899,322 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Kimbell Royalty Partners by 6.1% during the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company's stock worth $17,998,000 after acquiring an additional 64,678 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in Kimbell Royalty Partners by 7.3% in the second quarter. King Luther Capital Management Corp now owns 440,919 shares of the energy company's stock valued at $7,213,000 after purchasing an additional 29,998 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Price Performance

KRP traded up $0.04 on Thursday, hitting $16.08. 143,748 shares of the company's stock were exchanged, compared to its average volume of 363,899. The firm has a 50-day moving average price of $15.91 and a 200-day moving average price of $16.19. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.86 and a beta of 1.13. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a fifty-two week low of $14.26 and a fifty-two week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last released its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The business had revenue of $76.60 million during the quarter, compared to analysts' expectations of $81.19 million. During the same period last year, the business earned $0.23 earnings per share. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities analysts anticipate that Kimbell Royalty Partners will post 0.74 earnings per share for the current year.

Kimbell Royalty Partners Company Profile