Kimbell Royalty Partners (NYSE:KRP) Shares Gap Up After Analyst Upgrade

Kimbell Royalty Partners, LP (NYSE:KRP)’s share price gapped up before the market opened on Thursday after Raymond James raised their price target on the stock from $19.00 to $23.00. The stock had previously closed at $15.86, but opened at $16.21. Raymond James currently has a strong-buy rating on the stock. Kimbell Royalty Partners shares last traded at $15.94, with a volume of 1,613,045 shares changing hands.

Several other research firms have also issued reports on KRP. Truist Financial increased their price objective on Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. KeyCorp lowered their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several large investors have recently made changes to their positions in KRP. International Assets Investment Management LLC lifted its position in shares of Kimbell Royalty Partners by 1,509.0% in the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after buying an additional 91,672 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Kimbell Royalty Partners by 38.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after acquiring an additional 74,098 shares during the last quarter. Raymond James & Associates increased its stake in Kimbell Royalty Partners by 6.1% during the third 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 last quarter. GSA Capital Partners LLP increased its stake in Kimbell Royalty Partners by 80.8% during the third quarter. GSA Capital Partners LLP now owns 94,613 shares of the energy company’s stock worth $1,522,000 after acquiring an additional 42,275 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its stake in Kimbell Royalty Partners by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 227,582 shares of the energy company’s stock worth $3,662,000 after acquiring an additional 30,788 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Stock Performance

The stock has a market cap of $1.52 billion, a P/E ratio of 31.14, a PEG ratio of 8.13 and a beta of 1.10. The business has a 50 day moving average price of $15.89 and a 200 day moving average price of $16.03. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $83.79 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that Kimbell Royalty Partners, LP will post 0.65 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.41 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.33%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 321.57%.

About Kimbell Royalty Partners