Zacks Research Downgrades Kimbell Royalty (NYSE:KRP) to Hold

Kimbell Royalty (NYSE:KRP) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Mizuho upped their target price on Kimbell Royalty from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Citigroup decreased their price objective on shares of Kimbell Royalty from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Kimbell Royalty in a research note on Monday, December 29th. Finally, KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Kimbell Royalty presently has a consensus rating of “Reduce” and an average target price of $15.80.

Kimbell Royalty Stock Performance

NYSE KRP opened at $12.85 on Thursday. The company’s 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $13.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.39 and a quick ratio of 5.39. Kimbell Royalty has a 1 year low of $10.98 and a 1 year high of $16.14. The stock has a market capitalization of $1.39 billion, a PE ratio of -183.50, a P/E/G ratio of 4.44 and a beta of 0.32.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Thursday, November 6th. The energy company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Kimbell Royalty had a net margin of 10.66% and a return on equity of 12.51%. The firm had revenue of $80.62 million during the quarter, compared to analyst estimates of $82.68 million. During the same period in the previous year, the business earned $0.22 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Kimbell Royalty

Several hedge funds have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC grew its stake in shares of Kimbell Royalty by 81.7% during the fourth quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock valued at $2,137,000 after buying an additional 81,693 shares during the last quarter. Smith Moore & CO. boosted its holdings in Kimbell Royalty by 5.2% during the 4th quarter. Smith Moore & CO. now owns 31,002 shares of the energy company’s stock valued at $365,000 after acquiring an additional 1,521 shares during the period. Apollon Wealth Management LLC grew its position in Kimbell Royalty by 12.4% during the 4th quarter. Apollon Wealth Management LLC now owns 28,891 shares of the energy company’s stock worth $340,000 after acquiring an additional 3,191 shares during the last quarter. Naviter Wealth LLC purchased a new position in Kimbell Royalty in the 4th quarter worth approximately $150,000. Finally, Sowell Financial Services LLC bought a new stake in Kimbell Royalty in the fourth quarter valued at approximately $120,000. 25.78% of the stock is owned by institutional investors.

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.