Kimbell Royalty (NYSE:KRP) Stock Has Consensus Price Target of $18.25 According to Brokerages

Key Points

• Analysts maintain a bullish outlook: Kimbell Royalty has a consensus “Buy” rating from six brokerages, with an average 12-month price target of $18.25 versus the reported share price of $16.85.
• Quarterly results exceeded expectations: The company reported earnings of $0.40 per share, beating estimates of $0.23, while revenue rose 29.9% year over year to $112.48 million.
• Dividend yield remains attractive: Kimbell increased its quarterly dividend to $0.47, representing $1.88 annually and an 11.2% yield, though its payout ratio stood at a high 223.81%.

Kimbell Royalty (NYSE:KRP - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.25.

Several research firms have commented on KRP. KeyCorp increased their target price on Kimbell Royalty from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Tuesday, September 15th. Zacks Research upgraded shares of Kimbell Royalty from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 30th. Weiss Ratings upgraded Kimbell Royalty from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, October 13th. Finally, Wall Street Zen raised Kimbell Royalty from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th.

Kimbell Royalty Stock Performance

Shares of NYSE KRP opened at $16.85 on Tuesday. Kimbell Royalty has a one year low of $11.31 and a one year high of $17.00. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 20.06 and a beta of 0.44. The stock's fifty day moving average price is $15.16 and its two-hundred day moving average price is $14.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%. The firm had revenue of $112.48 million during the quarter, compared to analysts' expectations of $93.45 million. During the same period in the previous year, the firm earned $0.02 EPS. The company's quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts forecast that Kimbell Royalty will post 1.10 EPS for the current year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 11.2%. This is a boost from Kimbell Royalty's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 17th. Kimbell Royalty's dividend payout ratio (DPR) is currently 223.81%.

Insider Buying and Selling

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total transaction of $68,221.92. Following the transaction, the insider directly owned 70,639 shares of the company's stock, valued at $1,065,236.12. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Kimbell Royalty

Hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Kimbell Royalty by 329.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company's stock worth $52,713,000 after purchasing an additional 2,783,040 shares during the period. Royal Bank of Canada boosted its position in shares of Kimbell Royalty by 32.0% in the first quarter. Royal Bank of Canada now owns 596,687 shares of the energy company's stock valued at $8,634,000 after acquiring an additional 144,644 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in shares of Kimbell Royalty in the second quarter worth $8,432,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Kimbell Royalty in the 1st quarter valued at about $7,405,000. Finally, Oxbow Advisors LLC purchased a new stake in Kimbell Royalty in the second quarter valued at approximately $5,928,000. Institutional investors own 25.78% of the company's stock.

About Kimbell Royalty

Kimbell Royalty Partners, LP NYSE: KRP is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.

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