Kimbell Royalty Partners (NYSE:KRP) Earns Underperform Rating from Bank of America

Bank of America reaffirmed their underperform rating on shares of Kimbell Royalty Partners (NYSE:KRP) in a research report report published on Friday, Benzinga reports. Bank of America currently has a $16.00 price target on the energy company’s stock.

A number of other research analysts also recently issued reports on KRP. KeyCorp raised their price target on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Truist Financial reduced their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a buy rating for the company in a report on Friday, April 5th. Finally, TD Securities cut their price objective on Kimbell Royalty Partners from $26.00 to $25.00 and set a buy rating for the company in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $20.57.

Kimbell Royalty Partners Stock Down 2.5 %

Shares of NYSE:KRP opened at $16.01 on Friday. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11. The firm’s 50-day moving average is $16.31 and its two-hundred day moving average is $15.61. The firm has a market capitalization of $1.53 billion, a PE ratio of 26.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.48 and a quick ratio of 8.48.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The firm had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. Kimbell Royalty Partners had a return on equity of 5.74% and a net margin of 12.93%. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts predict that Kimbell Royalty Partners will post 0.74 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.49 dividend. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.96 annualized dividend and a dividend yield of 12.24%. The ex-dividend date was Friday, May 10th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 326.67%.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total transaction of $421,298.13. Following the transaction, the director now owns 299,030 shares in the company, valued at $4,637,955.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now directly owns 249,030 shares in the company, valued at approximately $4,113,975.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brett G. Taylor sold 27,163 shares of Kimbell Royalty Partners stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the sale, the director now owns 299,030 shares of the company’s stock, valued at approximately $4,637,955.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,650 shares of company stock worth $1,348,495. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Board of Trustees of The Leland Stanford Junior University lifted its holdings in Kimbell Royalty Partners by 148.1% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock worth $1,680,000 after acquiring an additional 66,638 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Kimbell Royalty Partners by 1,540.0% in the 4th quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock worth $1,376,000 after acquiring an additional 85,854 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Kimbell Royalty Partners during the fourth quarter valued at approximately $2,230,000. First Financial Bankshares Inc acquired a new stake in Kimbell Royalty Partners during the fourth quarter valued at $4,200,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Kimbell Royalty Partners by 6.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock worth $7,852,000 after buying an additional 31,106 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Company Profile