Kimbell Royalty Partners (NYSE:KRP) Price Target Raised to $23.00

Posted by Alanna Baker on Jan 24th, 2025

Kimbell Royalty Partners (NYSE:KRP – Free Report) had its price objective lifted by Raymond James from $19.00 to $23.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a strong-buy rating on the energy company’s stock.

Several other brokerages have also recently issued reports on KRP. KeyCorp dropped their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial raised their price objective on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.20.

View Our Latest Report on Kimbell Royalty Partners

Kimbell Royalty Partners Stock Performance

KRP opened at $15.98 on Thursday. Kimbell Royalty Partners has a twelve month low of $14.57 and a twelve month high of $17.07. The firm has a market capitalization of $1.53 billion, a PE ratio of 31.34, a PEG ratio of 8.37 and a beta of 1.10. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $15.90 and its 200 day moving average price is $16.03.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. During the same period in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kimbell Royalty Partners will post 0.65 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.26%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio is presently 321.57%.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now owns 45,164 shares of the company’s stock, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after buying an additional 1,484 shares during the period. Hilltop National Bank acquired a new position in Kimbell Royalty Partners during the 4th quarter worth about $49,000. Godsey & Gibb Inc. boosted its holdings in Kimbell Royalty Partners by 62.9% during the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock valued at $66,000 after acquiring an additional 1,580 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in Kimbell Royalty Partners in the 3rd quarter valued at about $79,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.