Kimbell Royalty Partners (NYSE:KRP) Reaches New 1-Year High at $13.52

Kimbell Royalty Partners, LP (NYSE:KRP)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.52 and last traded at $13.50, with a volume of 3202 shares changing hands. The stock had previously closed at $13.20.

Several equities research analysts have recently issued reports on the company. Raymond James lifted their price target on Kimbell Royalty Partners from $18.00 to $20.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 14th. KeyCorp lifted their price target on Kimbell Royalty Partners from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, June 16th. Finally, Zacks Investment Research lowered Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a report on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $14.17.

The company has a fifty day moving average of $11.57 and a two-hundred day moving average of $11.67. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $843.76 million, a price-to-earnings ratio of -6.51 and a beta of 2.08.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 5th. The energy company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). Kimbell Royalty Partners had a positive return on equity of 3.75% and a negative net margin of 86.40%. The company had revenue of $25.73 million during the quarter, compared to analyst estimates of $33.91 million. As a group, sell-side analysts predict that Kimbell Royalty Partners, LP will post 0.4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were issued a $0.31 dividend. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 8.90%. The ex-dividend date was Friday, July 30th. Kimbell Royalty Partners’s payout ratio is 136.26%.

In related news, major shareholder Kkr Upstream Associates Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $12.20, for a total value of $12,200,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of KRP. Morgan Stanley increased its position in Kimbell Royalty Partners by 96.7% in the 2nd quarter. Morgan Stanley now owns 353,841 shares of the energy company’s stock worth $4,546,000 after buying an additional 173,984 shares during the period. Renaissance Technologies LLC increased its position in Kimbell Royalty Partners by 86.4% in the 2nd quarter. Renaissance Technologies LLC now owns 308,531 shares of the energy company’s stock worth $3,965,000 after buying an additional 143,051 shares during the period. Marshall Wace LLP bought a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $1,430,000. Bramshill Investments LLC bought a new position in Kimbell Royalty Partners in the 1st quarter worth approximately $770,000. Finally, Segment Wealth Management LLC bought a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $952,000. 25.02% of the stock is currently owned by institutional investors.

About Kimbell Royalty Partners (NYSE:KRP)

Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded on October 30, 2015 and is headquartered in Fort Worth, TX.

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