Kimbell Royalty Partners (NYSE:KRP) Shares Gap Up on Analyst Upgrade

Kimbell Royalty Partners, LP (NYSE:KRP)’s share price gapped up prior to trading on Thursday after Raymond James raised their price target on the stock from $19.00 to $23.00. The stock had previously closed at $15.86, but opened at $16.21. Raymond James currently has a strong-buy rating on the stock. Kimbell Royalty Partners shares last traded at $15.94, with a volume of 1,613,045 shares trading hands.

Other research analysts have also recently issued reports about the stock. KeyCorp dropped their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lifted their price objective on Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.20.

Insider Transactions at Kimbell Royalty Partners

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

Institutional Investors Weigh In On Kimbell Royalty Partners

Several hedge funds have recently modified their holdings of KRP. International Assets Investment Management LLC lifted its position in Kimbell Royalty Partners by 1,509.0% during the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after buying an additional 91,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Kimbell Royalty Partners by 11.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after acquiring an additional 10,176 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Kimbell Royalty Partners by 42.6% during the 3rd quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock worth $345,000 after acquiring an additional 6,401 shares during the period. Barclays PLC lifted its holdings in shares of Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after acquiring an additional 12,538 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Kimbell Royalty Partners by 19.5% in the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock worth $512,000 after acquiring an additional 5,190 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Trading Down 0.6 %

The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.52 billion, a PE ratio of 31.14, a P/E/G ratio of 8.13 and a beta of 1.10. The business’s fifty day moving average is $15.89 and its 200-day moving average is $16.03.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share 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 business had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same period last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, analysts anticipate that Kimbell Royalty Partners, LP will post 0.65 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Kimbell Royalty Partners Company Profile