Kimbell Royalty Partners (NYSE:KRP) Given New $23.00 Price Target at Raymond James

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) had its price target lifted by equities research analysts at Raymond James from $19.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "strong-buy" rating on the energy company's stock. Raymond James' price objective would suggest a potential upside of 44.85% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. KeyCorp dropped their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Truist Financial increased their price target on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a "buy" rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.20.

Kimbell Royalty Partners Trading Down 0.6 %

Kimbell Royalty Partners stock traded down $0.10 during trading on Thursday, reaching $15.88. The company had a trading volume of 659,917 shares, compared to its average volume of 1,183,028. Kimbell Royalty Partners has a 12-month low of $14.57 and a 12-month high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock's 50 day moving average price is $15.89 and its two-hundred day moving average price is $16.03. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 8.13 and a beta of 1.10.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The company's quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. As a group, equities analysts expect that Kimbell Royalty Partners will post 0.65 earnings per share for the current fiscal year.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. This represents a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new stake in Kimbell Royalty Partners during the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Kimbell Royalty Partners by 98.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company's stock valued at $49,000 after buying an additional 1,484 shares during the last quarter. Hilltop National Bank acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth about $49,000. Godsey & Gibb Inc. lifted its holdings in Kimbell Royalty Partners by 62.9% in the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company's stock worth $66,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Kimbell Royalty Partners in the third quarter valued at approximately $79,000. Institutional investors and hedge funds own 25.78% of the company's stock.

About Kimbell Royalty Partners