Kimbell Royalty (NYSE:KRP) Stock Has Consensus Price Target of $18.25

Shares of Kimbell Royalty (NYSE:KRP) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.25.

Several research firms have recently weighed in on KRP. KeyCorp increased 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 raised Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research raised Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Finally, Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th.

Insider Activity at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 4,524 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,065,236.12. This trade represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by company insiders.

Institutional Trading of Kimbell Royalty

Several hedge funds have recently bought and sold shares of the stock. Rhodes Investment Advisors Inc. ADV increased its position in Kimbell Royalty by 1.6% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 151,160 shares of the energy company’s stock worth $2,159,000 after buying an additional 2,319 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of Kimbell Royalty during the 3rd quarter valued at about $97,000. Envestnet Asset Management Inc. grew its stake in shares of Kimbell Royalty by 12.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,479 shares of the energy company’s stock valued at $603,000 after acquiring an additional 4,518 shares during the period. State Street Corp grew its stake in shares of Kimbell Royalty by 58.6% during 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. Finally, Tidal Investments LLC increased its holdings in Kimbell Royalty by 11.2% in the 2nd quarter. Tidal Investments LLC now owns 64,413 shares of the energy company’s stock worth $936,000 after acquiring an additional 6,479 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Price Performance

Shares of NYSE:KRP opened at $15.14 on Friday. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $15.80. The business has a 50-day simple moving average of $14.86 and a two-hundred day simple moving average of $14.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 18.03 and a beta of 0.44.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The business had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $93.45 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts expect that Kimbell Royalty will post 1.1 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, August 17th. This represents a $1.88 annualized dividend and a dividend yield of 12.4%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.41. Kimbell Royalty’s dividend payout ratio is 223.81%.

Kimbell Royalty Company Profile

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.