Kimbell Royalty (NYSE:KRP) Receives $18.00 Consensus Target Price from Brokerages

Kimbell Royalty (NYSE:KRP) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.00.

KRP has been the topic of a number of research reports. Wall Street Zen raised Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Royal Bank Of Canada started coverage on Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective for the company. Zacks Research downgraded Kimbell Royalty from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimbell Royalty in a research report on Tuesday, August 11th.

Kimbell Royalty Trading Up 0.9%

Shares of KRP stock opened at $15.04 on Thursday. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.71. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.80. The stock has a 50-day moving average of $14.83 and a 200-day moving average of $14.68. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 17.91 and a beta of 0.30.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.17. The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. On average, equities research analysts forecast that Kimbell Royalty will post 0.81 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.5%. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, August 17th. Kimbell Royalty’s payout ratio is 223.81%.

Institutional Investors Weigh In On Kimbell Royalty

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in Kimbell Royalty by 329.4% during the second quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company’s stock worth $52,713,000 after buying an additional 2,783,040 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Kimbell Royalty during the 2nd quarter valued at $8,432,000. Arrowstreet Capital Limited Partnership purchased a new position in Kimbell Royalty during the 1st quarter worth $7,405,000. Oxbow Advisors LLC purchased a new position in Kimbell Royalty during the 2nd quarter worth $5,928,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Kimbell Royalty in the 2nd quarter worth $5,445,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

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.