Kimbell Royalty Partners (NYSE:KRP) Price Target Raised to $22.00

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

Separately, KeyCorp decreased their price target on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Kimbell Royalty Partners Stock Performance

KRP opened at $16.02 on Monday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.58 and a beta of 1.10. The company’s fifty day moving average price is $15.96 and its two-hundred day moving average price is $16.06. Kimbell Royalty Partners has a 1-year low of $14.26 and a 1-year high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. On average, analysts expect that Kimbell Royalty Partners will post 0.65 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.24%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio is presently 321.57%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds have recently added to or reduced their stakes in KRP. AlphaCore Capital LLC lifted its stake in Kimbell Royalty Partners by 0.5% in the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after purchasing an additional 675 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Kimbell Royalty Partners by 4.7% in the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after buying an additional 823 shares during the period. Carson Advisory Inc. grew its stake in shares of Kimbell Royalty Partners by 1.8% during the 3rd quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock worth $791,000 after acquiring an additional 883 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after acquiring an additional 1,484 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners in the 2nd quarter worth about $25,000. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners