Truist Financial Forecasts Strong Price Appreciation for Kimbell Royalty Partners (NYSE:KRP) Stock

Kimbell Royalty Partners (NYSE:KRP) had its target price raised by Truist Financial from $21.00 to $22.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, KeyCorp lowered their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Kimbell Royalty Partners Trading Up 0.4 %

Shares of KRP opened at $16.02 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. Kimbell Royalty Partners has a 1-year low of $14.26 and a 1-year high of $17.07. The company has a market capitalization of $1.53 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.58 and a beta of 1.10. The firm’s 50 day simple moving average is $15.96 and its 200 day simple moving average is $16.06.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm had revenue of $83.79 million during the quarter, compared to analyst estimates of $80.03 million. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Sell-side analysts forecast that Kimbell Royalty Partners will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.24%. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now owns 45,164 shares in the company, valued at $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Kimbell Royalty Partners in the second quarter worth about $199,000. American Century Companies Inc. lifted its holdings in shares of 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 valued at $24,673,000 after buying an additional 260,332 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Kimbell Royalty Partners by 102.9% in the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock valued at $1,429,000 after acquiring an additional 44,320 shares during the period. Argent Trust Co purchased a new position in shares of Kimbell Royalty Partners in the second quarter worth approximately $176,000. Finally, King Luther Capital Management Corp boosted its stake in shares of Kimbell Royalty Partners by 7.3% during the 2nd quarter. King Luther Capital Management Corp now owns 440,919 shares of the energy company’s stock worth $7,213,000 after acquiring an additional 29,998 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners