Kimbell Royalty Partners LP (NYSE:KRP) Director Purchases $22,125.00 in Stock

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Kimbell Royalty Partners LP (NYSE:KRP) Director Brett G. Taylor purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $14.75 per share, for a total transaction of $22,125.00. Following the acquisition, the director now directly owns 215,027 shares of the company’s stock, valued at approximately $3,171,648.25. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of NYSE:KRP opened at $14.61 on Friday. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.13. Kimbell Royalty Partners LP has a 52-week low of $13.01 and a 52-week high of $22.27. The company has a 50 day moving average of $14.79 and a two-hundred day moving average of $16.51. The company has a market capitalization of $346.30 million, a price-to-earnings ratio of -73.05 and a beta of 1.47.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, August 8th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.45. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.83%. The company had revenue of $31.94 million during the quarter, compared to the consensus estimate of $27.75 million. On average, equities analysts anticipate that Kimbell Royalty Partners LP will post 0.83 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Needham Investment Management LLC acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $162,000. Raymond James Trust N.A. acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $167,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $195,000. Steward Partners Investment Advisory LLC acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $226,000. Finally, JPMorgan Chase & Co. grew its position in Kimbell Royalty Partners by 46.7% in the second quarter. JPMorgan Chase & Co. now owns 19,000 shares of the energy company’s stock valued at $309,000 after acquiring an additional 6,050 shares in the last quarter. 58.95% of the stock is owned by institutional investors.

KRP has been the topic of several research reports. SunTrust Banks initiated coverage on shares of Kimbell Royalty Partners in a report on Monday, June 17th. They issued a “hold” rating and a $19.00 price target on the stock. Stifel Nicolaus lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $18.00 in a report on Tuesday, May 28th. TheStreet lowered shares of Kimbell Royalty Partners from a “c” rating to a “d+” rating in a report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Kimbell Royalty Partners from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $20.63.

About Kimbell Royalty Partners

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

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