Mizuho Initiates Coverage on Kimbell Royalty Partners (NYSE:KRP)

Stock analysts at Mizuho started coverage on shares of Kimbell Royalty Partners (NYSE:KRP) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a “neutral” rating and a $16.00 price target on the energy company’s stock. Mizuho’s price target indicates a potential upside of 12.80% from the company’s previous close.

KRP has been the subject of several other research reports. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Bank of America lowered their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, March 4th. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Finally, Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.80.

Kimbell Royalty Partners Stock Performance

Shares of Kimbell Royalty Partners stock opened at $14.19 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The business’s 50 day moving average price is $14.92 and its 200 day moving average price is $15.62. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners has a one year low of $13.24 and a one year high of $17.07.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction dated 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 directly owns 49,263 shares of the company’s stock, valued at $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Kimbell Royalty Partners by 11.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after buying an additional 10,176 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Kimbell Royalty Partners by 19.5% during the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock worth $512,000 after purchasing an additional 5,190 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Kimbell Royalty Partners by 34.7% in the 3rd quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company’s stock valued at $325,000 after purchasing an additional 5,200 shares during the last quarter. HighTower Advisors LLC grew its stake in Kimbell Royalty Partners by 42.6% during the 3rd quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock worth $345,000 after buying an additional 6,401 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Kimbell Royalty Partners by 3.3% during the third quarter. Stifel Financial Corp now owns 235,945 shares of the energy company’s stock worth $3,796,000 after buying an additional 7,626 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners