Kimbell Royalty Partners, LP (NYSE:KRP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.80.

KRP has been the topic of several analyst reports. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Mizuho initiated coverage on Kimbell Royalty Partners in a research report on Monday. They issued a “neutral” rating and a $16.00 target price on the stock. Bank of America cut their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 4th. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 7,851 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the sale, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently modified their holdings of KRP. TD Waterhouse Canada Inc. increased its stake in Kimbell Royalty Partners by 30.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company’s stock worth $70,000 after purchasing an additional 1,000 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Kimbell Royalty Partners by 10.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company’s stock valued at $179,000 after acquiring an additional 1,035 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Kimbell Royalty Partners by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company’s stock worth $632,000 after buying an additional 1,298 shares during the period. AlphaCore Capital LLC boosted its stake in shares of Kimbell Royalty Partners by 0.9% during the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company’s stock valued at $2,421,000 after buying an additional 1,350 shares during the period. Finally, Vident Advisory LLC raised its holdings in Kimbell Royalty Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock valued at $500,000 after buying an additional 1,747 shares in the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Stock Performance

Shares of KRP traded down $0.06 during midday trading on Monday, hitting $14.01. 175,543 shares of the stock traded hands, compared to its average volume of 549,161. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. Kimbell Royalty Partners has a 1-year low of $13.24 and a 1-year high of $17.07. The business’s 50 day moving average price is $14.96 and its two-hundred day moving average price is $15.63. The firm has a market capitalization of $1.50 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.42%. Kimbell Royalty Partners’s payout ratio is currently -1,454.55%.

About Kimbell Royalty Partners