KeyCorp Boosts Kimbell Royalty Partners (NYSE:KRP) Price Target to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective increased by KeyCorp from $20.00 to $21.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Several other research analysts have also weighed in on the stock. Truist Financial lowered their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a buy rating on the stock in a research report on Friday, April 5th. Raymond James lowered their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Finally, TD Securities lowered their price target on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $21.00.

Kimbell Royalty Partners Trading Down 0.4 %

Shares of Kimbell Royalty Partners stock opened at $15.95 on Monday. Kimbell Royalty Partners has a 52-week low of $14.02 and a 52-week high of $17.11. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $15.68 and its 200-day simple moving average is $15.50. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.33 and a beta of 1.08.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.13). Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The company had revenue of $99.20 million for the quarter, compared to analyst estimates of $83.89 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 44.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Kimbell Royalty Partners will post 0.79 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 13th were given a $0.43 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.72 annualized dividend and a dividend yield of 10.79%. Kimbell Royalty Partners’s dividend payout ratio is presently 186.96%.

Insider Buying and Selling

In related news, Director Brett G. Taylor sold 22,327 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $15.68, for a total transaction of $350,087.36. Following the sale, the director now owns 402,536 shares in the company, valued at $6,311,764.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Brett G. Taylor sold 27,163 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the sale, the director now owns 299,030 shares in the company, valued at $4,637,955.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brett G. Taylor sold 22,327 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $15.68, for a total transaction of $350,087.36. Following the sale, the director now owns 402,536 shares in the company, valued at approximately $6,311,764.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,672 shares of company stock worth $1,571,185. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of hedge funds have recently made changes to their positions in KRP. Godsey & Gibb Inc. boosted its holdings in shares of Kimbell Royalty Partners by 433.3% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,600 shares of the energy company’s stock valued at $26,000 after purchasing an additional 1,300 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Kimbell Royalty Partners in the 3rd quarter valued at $48,000. Barclays PLC acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at $155,000. National Bank of Canada FI boosted its holdings in shares of Kimbell Royalty Partners by 29.6% in the 3rd quarter. National Bank of Canada FI now owns 10,962 shares of the energy company’s stock valued at $171,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Annandale Capital LLC boosted its holdings in shares of Kimbell Royalty Partners by 8.1% in the 3rd quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after purchasing an additional 850 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile