Kimbell Royalty (NYSE:KRP) Receives Average Rating of “Moderate Buy” from Analysts

Kimbell Royalty (NYSE:KRP) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.00.

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. KeyCorp raised shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a report on Thursday, April 2nd. Wall Street Zen cut shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Weiss Ratings cut shares of Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 14th.

Hedge Funds Weigh In On Kimbell Royalty

A number of large investors have recently bought and sold shares of KRP. Bridgewealth Advisory Group LLC increased its stake in shares of Kimbell Royalty by 5.7% in the fourth quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock valued at $176,000 after purchasing an additional 810 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Kimbell Royalty by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company’s stock valued at $2,270,000 after purchasing an additional 840 shares during the period. Centaurus Financial Inc. increased its stake in shares of Kimbell Royalty by 5.0% in the third quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock valued at $243,000 after purchasing an additional 852 shares during the period. Ruggaard & Associates LLC increased its stake in shares of Kimbell Royalty by 8.1% in the second quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock valued at $178,000 after purchasing an additional 950 shares during the period. Finally, Hilltop Holdings Inc. increased its stake in shares of Kimbell Royalty by 4.2% in the first quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock valued at $362,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Stock Performance

Shares of KRP stock opened at $14.56 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12. Kimbell Royalty has a one year low of $11.31 and a one year high of $15.80. The company’s 50-day simple moving average is $14.98 and its 200-day simple moving average is $13.99. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 31.64 and a beta of 0.29.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.19). Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The company had revenue of $65.54 million for the quarter, compared to the consensus estimate of $90.25 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts anticipate that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty declared that its Board of Directors has initiated a share buyback program on Monday, March 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the energy company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a $0.41 dividend. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. This represents a $1.64 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend was Tuesday, May 19th. Kimbell Royalty’s dividend payout ratio is 356.52%.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.