Kimbell Royalty Partners (NYSE:KRP) PT Raised to $23.00 at Truist Financial

Kimbell Royalty Partners (NYSE:KRP) had its target price increased by Truist Financial from $22.00 to $23.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Other equities analysts have also recently issued research reports about the company. KeyCorp upped their price target on Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an overweight rating in a report on Monday, April 22nd. Bank of America reissued an underperform rating and issued a $16.00 target price on shares of Kimbell Royalty Partners in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $21.00.

Kimbell Royalty Partners Stock Down 2.2 %

Shares of KRP traded down $0.35 during trading hours on Friday, hitting $15.40. 602,806 shares of the company were exchanged, compared to its average volume of 357,361. The company has a market cap of $1.47 billion, a PE ratio of 25.62, a PEG ratio of 1.41 and a beta of 1.13. The firm’s 50 day moving average is $16.58 and its 200-day moving average is $15.99. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.48 and a current ratio of 8.48.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 4.91% and a net margin of 10.74%. The business had revenue of $76.60 million for the quarter, compared to analyst estimates of $81.19 million. During the same period in the prior year, the firm posted $0.23 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts forecast that Kimbell Royalty Partners will post 1 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.91%. Kimbell Royalty Partners’s dividend payout ratio is presently 326.67%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now owns 249,030 shares of the company’s stock, valued at approximately $4,113,975.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of large investors have recently bought and sold shares of KRP. International Assets Investment Management LLC boosted its holdings in shares of Kimbell Royalty Partners by 1,540.0% in the 4th quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock valued at $1,376,000 after buying an additional 85,854 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kimbell Royalty Partners by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 474,669 shares of the energy company’s stock valued at $7,144,000 after buying an additional 30,630 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Kimbell Royalty Partners by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock valued at $197,000 after buying an additional 1,379 shares during the last quarter. Truist Financial Corp raised its stake in Kimbell Royalty Partners by 11.1% in the 4th quarter. Truist Financial Corp now owns 20,532 shares of the energy company’s stock valued at $309,000 after acquiring an additional 2,056 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in Kimbell Royalty Partners by 21.2% in the 4th quarter. Apollon Wealth Management LLC now owns 16,596 shares of the energy company’s stock valued at $250,000 after acquiring an additional 2,903 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty Partners