Kimbell Royalty (NYSE:KRP) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other analysts have also issued reports on KRP. Weiss Ratings reiterated a “hold (c)” rating on shares of Kimbell Royalty in a research note on Tuesday. Zacks Research lowered shares of Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kimbell Royalty currently has a consensus rating of “Hold” and an average price target of $18.00.

Kimbell Royalty Stock Performance

NYSE KRP opened at $15.06 on Friday. The stock has a fifty day simple moving average of $14.86 and a 200-day simple moving average of $14.64. The company has a current ratio of 7.30, a quick ratio of 5.12 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.73 billion, a PE ratio of 17.93 and a beta of 0.30. Kimbell Royalty has a twelve month low of $11.31 and a twelve month high of $15.80.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $112.48 million for the quarter, compared to the consensus estimate of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Equities analysts anticipate that Kimbell Royalty will post 0.81 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Monday, August 17th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.41. Kimbell Royalty’s dividend payout ratio (DPR) is 195.24%.

Institutional Trading of Kimbell Royalty

Institutional investors have recently bought and sold shares of the business. First Bancorp Inc ME purchased a new stake in shares of Kimbell Royalty during the 2nd quarter worth approximately $90,000. Oxbow Advisors LLC acquired a new stake in Kimbell Royalty during the 2nd quarter worth $5,928,000. Plato Investment Management Ltd purchased a new stake in Kimbell Royalty in the second quarter valued at $151,000. Chase Investment Counsel Corp acquired a new position in Kimbell Royalty in the second quarter valued at $507,000. Finally, State of Wyoming purchased a new position in shares of Kimbell Royalty during the second quarter worth about $135,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.