Kimbell Royalty (NYSE:KRP) Receives $17.20 Average Target Price from Brokerages

Kimbell Royalty (NYSE:KRP) has been given an average recommendation of “Hold” by the six ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.20.

A number of research analysts have recently issued reports on KRP shares. Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. KeyCorp reduced their price target on shares of Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Finally, Zacks Research downgraded shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th.

Kimbell Royalty Price Performance

Kimbell Royalty stock opened at $13.91 on Monday. Kimbell Royalty has a 52-week low of $10.98 and a 52-week high of $16.99. The firm has a fifty day moving average of $14.08 and a 200-day moving average of $13.61. The firm has a market capitalization of $1.50 billion, a P/E ratio of -347.75 and a beta of 0.57. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The firm had revenue of $86.55 million for the quarter, compared to analyst estimates of $79.77 million. Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. Kimbell Royalty’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, analysts predict that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend was Monday, August 18th. Kimbell Royalty’s dividend payout ratio (DPR) is -3,800.00%.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 3,600 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $13.74, for a total value of $49,464.00. Following the completion of the sale, the insider directly owned 43,663 shares of the company’s stock, valued at approximately $599,929.62. This represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty

Hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new position in shares of Kimbell Royalty in the 1st quarter worth approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Kimbell Royalty in the 1st quarter worth approximately $34,000. Lowe Wealth Advisors LLC acquired a new position in shares of Kimbell Royalty in the 1st quarter worth approximately $34,000. Hilltop National Bank acquired a new position in shares of Kimbell Royalty in the 2nd quarter worth approximately $42,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Kimbell Royalty in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty