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

Kimbell Royalty Partners (NYSE:KRP) had its price objective cut by KeyCorp from $21.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. KeyCorp’s price target points to a potential upside of 25.23% from the stock’s current price.

Separately, Truist Financial dropped 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 research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Kimbell Royalty Partners Trading Down 1.9 %

Shares of KRP stock opened at $15.97 on Wednesday. The firm has a 50-day moving average price of $15.86 and a 200 day moving average price of $16.19. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.11. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.65 and a beta of 1.13. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The firm had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts forecast that Kimbell Royalty Partners will post 0.83 earnings per share for the current fiscal year.

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was 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 owns 50,164 shares in the company, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth about $43,000. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $49,000 after acquiring an additional 1,484 shares during the period. International Assets Investment Management LLC purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $99,000. Finally, Bridgewealth Advisory Group LLC purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile