Kimbell Royalty (NYSE:KRP) Given New $17.00 Price Target at KeyCorp

Key Points

• KeyCorp has lowered its price target for Kimbell Royalty (NYSE:KRP) from $18.00 to $17.00, maintaining an "overweight" rating, which suggests a potential upside of 22.39% from the current price.
• Zacks Research has downgraded Kimbell Royalty from a "strong-buy" to a "hold" rating, aligning with several other analysts who have also rated the stock as "hold".
• Kimbell Royalty reported $0.02 earnings per share (EPS) in its latest quarter, falling short of analysts' expectations of $0.14, despite a year-over-year revenue increase of 12.9% to $86.55 million.

Kimbell Royalty (NYSE:KRP - Free Report) had its price target decreased by KeyCorp from $18.00 to $17.00 in a report released on Wednesday, Marketbeat.com reports. KeyCorp currently has an overweight rating on the energy company's stock.

Several other research analysts have also commented on the stock. Wall Street Zen lowered shares of Kimbell Royalty from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Zacks Research lowered shares of Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Kimbell Royalty presently has a consensus rating of "Hold" and a consensus price target of $17.20.

Kimbell Royalty Stock Down 2.4%

KRP stock traded down $0.33 during mid-day trading on Wednesday, hitting $13.41. 375,226 shares of the company were exchanged, compared to its average volume of 437,185. The company has a market capitalization of $1.45 billion, a PE ratio of -335.13 and a beta of 0.57. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a twelve month low of $10.98 and a twelve month high of $16.99. The firm has a fifty day simple moving average of $14.23 and a 200 day simple moving average of $13.72.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $86.55 million for the quarter, compared to analyst estimates of $79.77 million. Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.Kimbell Royalty's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. On average, research analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.52 annualized dividend and a yield of 11.3%. Kimbell Royalty's dividend payout ratio is presently -3,800.00%.

Insider Transactions at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 3,600 shares of Kimbell Royalty stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the transaction, the insider directly owned 43,663 shares of the company's stock, valued at $599,929.62. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kimbell Royalty

A number of hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its holdings in shares of Kimbell Royalty by 604.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company's stock valued at $23,683,000 after buying an additional 1,451,666 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Kimbell Royalty during the first quarter valued at $10,150,000. Epoch Investment Partners Inc. grew its holdings in shares of Kimbell Royalty by 222.8% during the first quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company's stock valued at $9,414,000 after buying an additional 464,142 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Kimbell Royalty during the first quarter valued at $6,300,000. Finally, Energy Income Partners LLC grew its holdings in shares of Kimbell Royalty by 231.4% during the first quarter. Energy Income Partners LLC now owns 585,969 shares of the energy company's stock valued at $8,204,000 after buying an additional 409,175 shares in the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Company Profile