KeyCorp Trims Kimbell Royalty Partners (NYSE:KRP) Target Price to $20.00

Kimbell Royalty Partners (NYSE:KRP) had its target price lowered by KeyCorp from $21.00 to $20.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Separately, Truist Financial dropped their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Kimbell Royalty Partners Trading Down 0.3 %

Shares of Kimbell Royalty Partners stock opened at $16.16 on Wednesday. The company has a market capitalization of $1.54 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The stock has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $16.19. Kimbell Royalty Partners has a 12-month low of $14.26 and a 12-month high of $17.11. 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 (NYSE:KRP) last posted its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $76.60 million during the quarter, compared to the consensus estimate of $81.19 million. During the same quarter in the previous year, the company earned $0.23 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Kimbell Royalty Partners will post 0.83 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.40%. The ex-dividend date was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio is 280.00%.

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

A number of large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth $25,000. Summit Securities Group LLC bought a new position in Kimbell Royalty Partners during the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after purchasing an additional 1,484 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kimbell Royalty Partners in the second quarter valued at approximately $99,000. Finally, Bridgewealth Advisory Group LLC purchased a new stake in shares of Kimbell Royalty Partners during the 2nd quarter valued at approximately $165,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile