Kimbell Royalty Partners (NYSE:KRP) Given New $22.00 Price Target at Truist Financial

Kimbell Royalty Partners (NYSE:KRP) had its price target boosted by Truist Financial from $21.00 to $22.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the energy company’s stock.

Other research analysts have also recently issued research reports about the company. KeyCorp increased their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Bank of America reiterated an underperform rating and issued a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $20.83.

Kimbell Royalty Partners Price Performance

KRP stock opened at $16.81 on Monday. The stock has a market cap of $1.60 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $16.61 and a two-hundred day moving average price of $15.89. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15). The business had revenue of $87.50 million during the quarter, compared to the consensus estimate of $79.42 million. Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.74%. Kimbell Royalty Partners’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Equities analysts forecast that Kimbell Royalty Partners will post 1.02 EPS for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.49 per share. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.96 annualized dividend and a dividend yield of 11.66%. The ex-dividend date was Friday, May 10th. Kimbell Royalty Partners’s dividend payout ratio is currently 326.67%.

Insider Activity at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now directly owns 249,030 shares in the company, valued at approximately $4,113,975.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently made changes to their positions in KRP. Board of Trustees of The Leland Stanford Junior University boosted its position in Kimbell Royalty Partners by 148.1% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock worth $1,680,000 after buying an additional 66,638 shares during the period. International Assets Investment Management LLC raised its position in shares of Kimbell Royalty Partners by 1,540.0% during the fourth quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock worth $1,376,000 after acquiring an additional 85,854 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth approximately $2,230,000. First Financial Bankshares Inc acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth approximately $4,200,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Kimbell Royalty Partners by 189.5% during the first 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. 25.78% of the stock is currently owned by institutional investors.

About Kimbell Royalty Partners