Kimbell Royalty (NYSE:KRP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Kimbell Royalty (NYSE:KRP) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.00.

Several research analysts recently issued reports on KRP shares. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Citigroup raised their target price on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Mizuho lowered their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Royal Bank Of Canada started coverage on Kimbell Royalty in a research report on Friday, May 29th. They set an “outperform” rating and a $20.00 target price for the company. Finally, KeyCorp raised Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research report on Thursday, April 2nd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KRP. Ascentis Independent Advisors bought a new position in shares of Kimbell Royalty in the 1st quarter worth about $60,000. EverSource Wealth Advisors LLC raised its position in shares of Kimbell Royalty by 29.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after acquiring an additional 1,250 shares in the last quarter. Marex Group plc bought a new position in shares of Kimbell Royalty in the 4th quarter worth about $118,000. Sowell Financial Services LLC bought a new position in shares of Kimbell Royalty in the 4th quarter worth about $120,000. Finally, Tableaux LLC bought a new position in shares of Kimbell Royalty in the 4th quarter worth about $120,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Stock Up 2.1%

Shares of NYSE:KRP opened at $15.01 on Wednesday. The firm has a market cap of $1.62 billion, a P/E ratio of 32.63 and a beta of 0.29. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.77. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $15.80. The business has a fifty day simple moving average of $14.94 and a 200 day simple moving average of $13.92.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.19). The company had revenue of $65.54 million for the quarter, compared to the consensus estimate of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 earnings per share. Analysts predict that Kimbell Royalty will post 0.97 earnings per share for the current year.

Kimbell Royalty declared that its board has authorized a stock buyback program on Monday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the energy company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were given a $0.41 dividend. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 10.9%. Kimbell Royalty’s dividend payout ratio is 356.52%.

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.