Kimbell Royalty Partners (NYSE:KRP) Price Target Cut to $21.00 by Analysts at Truist Financial

Kimbell Royalty Partners (NYSE:KRP) 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.

Kimbell Royalty Partners Price Performance

NYSE:KRP opened at $16.05 on Monday. The stock has a 50 day moving average price of $15.88 and a 200 day moving average price of $16.14. The stock has a market cap of $1.53 billion, a PE ratio of 26.77, a P/E/G ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. Kimbell Royalty Partners has a one year low of $14.26 and a one year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) 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