Kimbell Royalty Partners (NYSE:KRP) PT Lowered to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its target price cut by Truist Financial from $23.00 to $21.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Separately, Bank of America restated an underperform rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. 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 company. According to MarketBeat, Kimbell Royalty Partners currently has a consensus rating of Moderate Buy and an average price target of $20.67.

Kimbell Royalty Partners Stock Up 0.4 %

NYSE KRP opened at $16.11 on Monday. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.11. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.54 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The stock’s 50-day moving average price is $15.86 and its 200-day moving average price is $16.14.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results 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 firm had revenue of $76.60 million during the quarter, compared to the consensus estimate of $81.19 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, equities research analysts predict that Kimbell Royalty Partners will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.43%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s payout ratio is presently 280.00%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction 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 transaction, the insider now owns 50,164 shares in the company, valued at $788,076.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new stake in Kimbell Royalty Partners in the second quarter worth $25,000. Summit Securities Group LLC bought a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $43,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Kimbell Royalty Partners by 98.9% during the second 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. International Assets Investment Management LLC purchased a new position in Kimbell Royalty Partners during the 2nd quarter valued at $99,000. Finally, Bridgewealth Advisory Group LLC bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $165,000. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners