Kimbell Royalty (NYSE:KRP) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

Several other research analysts also recently weighed in on KRP. KeyCorp boosted their price target on Kimbell Royalty from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, September 15th. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Kimbell Royalty has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

Kimbell Royalty Price Performance

Kimbell Royalty stock opened at $14.44 on Wednesday. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $15.80. The stock has a market capitalization of $1.66 billion, a P/E ratio of 17.19 and a beta of 0.44. The firm’s 50-day moving average is $14.84 and its two-hundred day moving average is $14.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share. Equities analysts predict that Kimbell Royalty will post 1.1 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.0%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 17th. Kimbell Royalty’s dividend payout ratio (DPR) is presently 223.81%.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 4,524 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the transaction, the insider directly owned 70,639 shares in the company, valued at $1,065,236.12. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kimbell Royalty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its stake in Kimbell Royalty by 12.2% during the second quarter. Envestnet Asset Management Inc. now owns 41,479 shares of the energy company’s stock worth $603,000 after buying an additional 4,518 shares during the period. State Street Corp raised its stake in shares of Kimbell Royalty by 58.6% in the 2nd quarter. State Street Corp now owns 146,932 shares of the energy company’s stock valued at $2,135,000 after acquiring an additional 54,288 shares during the period. Tidal Investments LLC lifted its holdings in shares of Kimbell Royalty by 11.2% during the 2nd quarter. Tidal Investments LLC now owns 64,413 shares of the energy company’s stock valued at $936,000 after acquiring an additional 6,479 shares in the last quarter. WINTON GROUP Ltd boosted its position in Kimbell Royalty by 50.0% during the 2nd quarter. WINTON GROUP Ltd now owns 38,088 shares of the energy company’s stock worth $553,000 after purchasing an additional 12,688 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in Kimbell Royalty by 7.4% in the 2nd quarter. Engineers Gate Manager LP now owns 150,788 shares of the energy company’s stock valued at $2,191,000 after purchasing an additional 10,385 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty

Kimbell Royalty Partners, LP (NYSE:KRP) is a publicly traded oil and gas mineral and royalty company headquartered in Fort Worth, Texas. The partnership owns and acquires mineral, royalty, overriding royalty and other non-cost-bearing interests in oil and natural gas properties across the United States.

Kimbell’s interests are located primarily in major onshore producing regions, including the Permian, Eagle Ford, Bakken, Haynesville, Mid-Continent and Rocky Mountain basins. Because royalty interests generally do not require the owner to fund drilling, completion or operating expenses, the company’s business model is focused on receiving a share of production revenues from wells operated by exploration and production companies.

The company was formed in 2015 and completed its initial public offering in 2017.