Kimbell Royalty Partners (NYSE:KRP) Given New $23.00 Price Target at Raymond James

Kimbell Royalty Partners (NYSE:KRP) had its target price boosted by Raymond James from $19.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a strong-buy rating on the energy company’s stock.

Other research analysts have also recently issued research reports about the stock. KeyCorp reduced 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 boosted their price objective on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

Kimbell Royalty Partners Stock Performance

Shares of KRP opened at $15.98 on Thursday. The stock has a 50-day moving average of $15.90 and a two-hundred day moving average of $16.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock has a market cap of $1.53 billion, a P/E ratio of 31.34, a P/E/G ratio of 8.37 and a beta of 1.10. Kimbell Royalty Partners has a one year low of $14.57 and a one year high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $80.03 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, research analysts predict that Kimbell Royalty Partners will post 0.65 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.26%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 321.57%.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC increased its holdings in Kimbell Royalty Partners by 1,509.0% in the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after acquiring an additional 91,672 shares in the last quarter. Raymond James & Associates raised its position in shares of Kimbell Royalty Partners by 6.1% during the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after purchasing an additional 64,678 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Kimbell Royalty Partners by 80.8% during the 3rd quarter. GSA Capital Partners LLP now owns 94,613 shares of the energy company’s stock worth $1,522,000 after purchasing an additional 42,275 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Kimbell Royalty Partners by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 227,582 shares of the energy company’s stock valued at $3,662,000 after buying an additional 30,788 shares in the last quarter. Finally, Accordant Advisory Group Inc boosted its holdings in Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock worth $3,431,000 after buying an additional 19,716 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

About Kimbell Royalty Partners