Kimbell Royalty (NYSE:KRP) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Kimbell Royalty (NYSE:KRP – Free Report) from a hold rating to a buy rating in a research note released on Sunday.

Several other equities research analysts have also recently weighed in on KRP. Royal Bank Of Canada upgraded shares of Kimbell Royalty to a “moderate buy” rating in a research report on Friday, March 14th. KeyCorp dropped their price objective on shares of Kimbell Royalty from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Truist Financial lowered shares of Kimbell Royalty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America dropped their price objective on shares of Kimbell Royalty from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Kimbell Royalty in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.40.

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Kimbell Royalty Trading Down 0.1%

Shares of KRP opened at $13.95 on Friday. The company’s fifty day moving average is $13.32 and its 200 day moving average is $14.22. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $17.07. The stock has a market capitalization of $1.49 billion, a PE ratio of 279.00, a P/E/G ratio of 6.86 and a beta of 0.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.02 and a current ratio of 6.02.

Kimbell Royalty (NYSE:KRP – Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Kimbell Royalty had a net margin of 5.25% and a return on equity of 9.69%. The company had revenue of $84.21 million for the quarter, compared to analysts’ expectations of $84.05 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Kimbell Royalty’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 13.48%. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, May 20th. Kimbell Royalty’s payout ratio is presently 3,760.00%.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $13.27, for a total value of $26,540.00. Following the transaction, the insider directly owned 47,263 shares in the company, valued at approximately $627,180.01. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KRP. Oppenheimer & Co. Inc. grew its holdings in shares of Kimbell Royalty by 11.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 107,087 shares of the energy company’s stock worth $1,738,000 after purchasing an additional 10,710 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Kimbell Royalty in the fourth quarter worth about $32,000. Jones Financial Companies Lllp grew its holdings in shares of Kimbell Royalty by 293.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after purchasing an additional 2,028 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Kimbell Royalty by 16.2% in the fourth quarter. Arizona State Retirement System now owns 19,973 shares of the energy company’s stock worth $324,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Kimbell Royalty in the fourth quarter worth about $30,449,000. 25.78% of the stock is currently owned by institutional investors.

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