Kimbell Royalty (NYSE:KRP) Upgraded to Buy at Wall Street Zen

Kimbell Royalty (NYSE:KRP - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

Several other analysts have also recently weighed in on the stock. Raymond James Financial reaffirmed a "market perform" rating on shares of Kimbell Royalty in a report on Monday, March 3rd. Mizuho started coverage on shares of Kimbell Royalty in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 target price on the stock. KeyCorp reduced their target price on shares of Kimbell Royalty from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Bank of America reduced their target price on shares of Kimbell Royalty from $16.00 to $14.00 and set an "underperform" rating on the stock in a report on Tuesday, March 4th. Finally, Royal Bank Of Canada raised shares of Kimbell Royalty to a "moderate buy" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.40.

Kimbell Royalty Trading Down 0.6%

NYSE KRP opened at $13.90 on Friday. The firm has a 50 day simple moving average of $13.25 and a 200-day simple moving average of $14.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.02 and a current ratio of 6.02. Kimbell Royalty has a one year low of $10.98 and a one year high of $17.07. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 277.90, a PEG ratio of 9.19 and a beta of 0.51.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $84.21 million for the quarter, compared to analysts' expectations of $84.05 million. Kimbell Royalty had a net margin of 5.25% and a return on equity of 9.69%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. Equities research analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $13.27, for a total transaction of $26,540.00. Following the sale, the insider now owns 47,263 shares of the company's stock, valued at approximately $627,180.01. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Kimbell Royalty by 15.1% during the first quarter. American Century Companies Inc. now owns 2,542,362 shares of the energy company's stock worth $35,593,000 after acquiring an additional 334,009 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kimbell Royalty during the fourth quarter worth approximately $30,449,000. Adage Capital Partners GP L.L.C. grew its position 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 worth $23,683,000 after acquiring an additional 1,451,666 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Kimbell Royalty during the first quarter worth approximately $10,150,000. Finally, Epoch Investment Partners Inc. grew its position 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 worth $9,414,000 after acquiring an additional 464,142 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Company Profile

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