Kimbell Royalty Partners, LP (NYSE:KRP) Receives Average Recommendation of “Hold” from Analysts

Kimbell Royalty Partners, LP (NYSE:KRP) has received a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $17.80.

A number of research analysts have weighed in on KRP shares. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Mizuho initiated coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a “neutral” rating and a $16.00 target price on the stock. Bank of America cut 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. Finally, Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the sale, the insider now owns 49,263 shares of the company’s stock, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after buying an additional 294,789 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kimbell Royalty Partners in the 4th quarter valued at $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Kimbell Royalty Partners by 14.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after purchasing an additional 82,499 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Kimbell Royalty Partners by 0.5% in the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock worth $7,192,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Orvieto Partners L.P. acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth about $6,103,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Trading Down 8.8 %

NYSE:KRP opened at $12.40 on Monday. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $14.74 and its 200-day moving average is $15.57. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners has a 12 month low of $12.25 and a 12 month high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.90%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is presently -1,454.55%.

About Kimbell Royalty Partners