Kimbell Royalty Partners LP (NYSE:KRP) Director Buys $15,090.00 in Stock

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Kimbell Royalty Partners LP (NYSE:KRP) Director Brett G. Taylor purchased 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $15.09 per share, for a total transaction of $15,090.00. Following the completion of the purchase, the director now directly owns 215,027 shares of the company’s stock, valued at $3,244,757.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kimbell Royalty Partners stock opened at $14.61 on Friday. Kimbell Royalty Partners LP has a twelve month low of $13.01 and a twelve month high of $22.27. The stock’s fifty day simple moving average is $14.79 and its 200-day simple moving average is $16.51. The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $346.30 million, a P/E ratio of -73.05 and a beta of 1.47.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, August 8th. The energy company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.45. Kimbell Royalty Partners had a positive return on equity of 2.83% and a negative net margin of 17.53%. The business had revenue of $31.94 million for the quarter, compared to analyst estimates of $27.75 million. Sell-side analysts predict that Kimbell Royalty Partners LP will post 0.83 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Needham Investment Management LLC purchased a new stake in shares of Kimbell Royalty Partners during the second quarter worth $162,000. Royal Bank of Canada increased its position in shares of Kimbell Royalty Partners by 13.7% during the second quarter. Royal Bank of Canada now owns 52,293 shares of the energy company’s stock worth $844,000 after acquiring an additional 6,313 shares during the period. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Kimbell Royalty Partners during the second quarter worth $195,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Kimbell Royalty Partners during the second quarter worth $13,333,000. Finally, Yorktown Energy Partners X L.P. purchased a new stake in shares of Kimbell Royalty Partners during the second quarter worth $13,183,000. 58.95% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on KRP. TheStreet cut Kimbell Royalty Partners from a “c” rating to a “d+” rating in a research note on Friday, August 9th. Stifel Nicolaus cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, May 28th. SunTrust Banks began coverage on Kimbell Royalty Partners in a research note on Monday, June 17th. They set a “hold” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research upgraded Kimbell Royalty Partners from a “sell” rating to a “hold” rating in a research note 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 company’s stock. The company has a consensus 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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