KeyCorp Lowers Kimbell Royalty Partners (NYSE:KRP) Price Target to $20.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective lowered by KeyCorp from $21.00 to $20.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Separately, Truist Financial decreased their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Kimbell Royalty Partners Trading Down 0.2 %

Shares of KRP stock opened at $16.16 on Wednesday. Kimbell Royalty Partners has a 1 year low of $14.26 and a 1 year high of $17.11. The firm has a market capitalization of $1.54 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The stock has a fifty day moving average of $15.88 and a two-hundred day moving average of $16.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. Kimbell Royalty Partners’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts expect that Kimbell Royalty Partners will post 0.83 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.40%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 280.00%.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the sale, the insider now directly owns 50,164 shares of the company’s stock, valued at $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently modified their holdings of KRP. Ridgemont Partners Management LLC acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth $96,372,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after buying an additional 899,322 shares during the period. American Century Companies Inc. raised its holdings in Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after buying an additional 260,332 shares during the period. SG Americas Securities LLC acquired a new position in shares of Kimbell Royalty Partners in the second quarter worth about $1,227,000. Finally, Raymond James & Associates increased its position in shares of Kimbell Royalty Partners by 6.1% in the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after acquiring an additional 64,678 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile