Kimbell Royalty Partners (NYSE:KRP) PT Raised to $22.00

Kimbell Royalty Partners (NYSE:KRP) had its target price increased by investment analysts at Truist Financial from $21.00 to $22.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s price target indicates a potential upside of 30.56% from the stock’s previous close.

Several other research analysts have also recently weighed in on KRP. KeyCorp boosted their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Bank of America reiterated an “underperform” rating and issued a $16.00 target price on shares of Kimbell Royalty Partners in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.83.

Kimbell Royalty Partners Stock Down 0.2 %

KRP stock opened at $16.85 on Monday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $16.58 and a two-hundred day moving average of $15.88. Kimbell Royalty Partners has a 12 month low of $14.02 and a 12 month high of $17.11. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.62 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The company 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 business’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, analysts forecast that Kimbell Royalty Partners will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 50,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $16.52, for a total value of $826,000.00. Following the completion of the sale, the director now owns 249,030 shares in the company, valued at approximately $4,113,975.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after purchasing an additional 700 shares during the period. TD Asset Management Inc increased its position in shares of Kimbell Royalty Partners by 2.0% during the fourth quarter. TD Asset Management Inc now owns 65,586 shares of the energy company’s stock worth $987,000 after acquiring an additional 1,268 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kimbell Royalty Partners by 11.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock valued at $197,000 after purchasing an additional 1,379 shares during the period. Truist Financial Corp grew its stake in Kimbell Royalty Partners by 11.1% during the 4th quarter. Truist Financial Corp now owns 20,532 shares of the energy company’s stock worth $309,000 after purchasing an additional 2,056 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Kimbell Royalty Partners by 21.2% during the 4th quarter. Apollon Wealth Management LLC now owns 16,596 shares of the energy company’s stock worth $250,000 after purchasing an additional 2,903 shares during the period. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

About Kimbell Royalty Partners