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

Key Points

• Wall Street Zen upgraded Kimbell Royalty from “hold” to “buy,” while the broader analyst consensus remains “hold” with a $18.00 target price.
• Kimbell Royalty reported quarterly EPS of $0.40, beating estimates of $0.23, while revenue rose 29.9% year over year to $112.48 million.
• KRP shares opened at $15.06, near their 12-month high of $15.80; institutional investors and hedge funds own 25.78% of the company.

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

A number of other equities analysts also recently commented on KRP. Royal Bank Of Canada assumed coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an "outperform" rating and a $20.00 target price for the company. Zacks Research cut shares of Kimbell Royalty from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kimbell Royalty in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kimbell Royalty currently has a consensus rating of "Hold" and a consensus target price of $18.00.

Kimbell Royalty Trading Down 0.3%

Shares of NYSE:KRP opened at $15.06 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of 17.93 and a beta of 0.30. The company has a current ratio of 7.30, a quick ratio of 5.12 and a debt-to-equity ratio of 0.71. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $15.80. The business's fifty day simple moving average is $14.86 and its 200-day simple moving average is $14.64.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates 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 prior year, the business posted $0.02 EPS. The firm's quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts predict that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Kimbell Royalty by 32.6% in the first quarter. Royal Bank of Canada now owns 371,582 shares of the energy company's stock valued at $5,202,000 after buying an additional 91,263 shares during the last quarter. Jane Street Group LLC acquired a new stake in Kimbell Royalty in the first quarter worth about $297,000. Legal & General Group Plc grew its stake in shares of Kimbell Royalty by 17.2% during the second quarter. Legal & General Group Plc now owns 67,890 shares of the energy company's stock worth $948,000 after acquiring an additional 9,987 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Kimbell Royalty by 8.6% during the second quarter. First Trust Advisors LP now owns 464,829 shares of the energy company's stock worth $6,489,000 after acquiring an additional 36,803 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Kimbell Royalty during the second quarter valued at about $1,220,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP NYSE: KRP is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership's business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company's asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.

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