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

Kimbell Royalty Partners, LP (NYSE:KRP) has been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.40.

A number of brokerages have issued reports on KRP. Raymond James restated 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 research report on Tuesday, March 4th. KeyCorp cut their price objective on Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday. Mizuho assumed coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They set a “neutral” rating and a $16.00 target price for the company. Finally, Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th.

Insider Transactions 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 stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in Kimbell Royalty Partners in the 4th quarter worth $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Kimbell Royalty Partners during the 4th quarter worth about $32,000. Bessemer Group Inc. purchased a new position in Kimbell Royalty Partners in the 1st quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in Kimbell Royalty Partners in the 1st quarter worth about $34,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners during the 1st quarter worth approximately $34,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Stock Performance

KRP opened at $12.29 on Friday. The firm’s 50-day moving average price is $13.72 and its 200-day moving average price is $15.17. The company has a market cap of $1.31 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 52-week low of $10.98 and a 52-week high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were given a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 13.02%. Kimbell Royalty Partners’s dividend payout ratio is presently -1,454.55%.

Kimbell Royalty Partners Company Profile