Kimbell Royalty Partners (NYSE:KRP – Get Free Report) had its price target decreased by equities researchers at Truist Financial from $23.00 to $21.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price would suggest a potential upside of 30.84% from the stock’s current price.
Separately, Bank of America restated an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.
Get Our Latest Report on Kimbell Royalty Partners
Kimbell Royalty Partners Price Performance
Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The company had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Kimbell Royalty Partners will post 0.83 EPS for the current fiscal year.
Insider Buying and Selling at Kimbell Royalty Partners
In related news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares in the company, valued at $788,076.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.
Hedge Funds Weigh In On Kimbell Royalty Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRP. Ridgemont Partners Management LLC purchased a new position in shares of Kimbell Royalty Partners during the second quarter worth about $96,372,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kimbell Royalty Partners by 189.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after purchasing an additional 899,322 shares during the period. First Financial Bankshares Inc acquired a new position in Kimbell Royalty Partners during the fourth quarter worth approximately $4,200,000. American Century Companies Inc. boosted its stake in Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the period. Finally, Mill Road Capital Management LLC grew its position in Kimbell Royalty Partners by 14.8% during the 4th quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after purchasing an additional 243,761 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.
About Kimbell Royalty Partners
See Also
- Five stocks we like better than Kimbell Royalty Partners
- How to Choose Top Rated Stocks
- Why Lennar Stock Could Be the Best Play in the Housing Market
- What Are Dividend Champions? How to Invest in the Champions
- 2 Energy Stocks Fueling the AI Datacenter Boom
- What Are the FAANG Stocks and Are They Good Investments?
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Receive News & Ratings for Kimbell Royalty Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimbell Royalty Partners and related companies with MarketBeat.com's FREE daily email newsletter.