Kimbell Royalty Partners (NYSE:KRP) Upgraded by Wall Street Zen to "Buy" Rating

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

A number of other analysts have also issued reports on the stock. Truist Financial lowered shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and cut their price target for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Royal Bank of Canada upgraded Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. KeyCorp dropped their price objective on Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Bank of America lowered their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a report on Tuesday, March 4th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.40.

Kimbell Royalty Partners Stock Performance

NYSE:KRP traded up $0.11 during trading hours on Friday, reaching $13.19. The company had a trading volume of 425,996 shares, compared to its average volume of 605,894. Kimbell Royalty Partners has a 1-year low of $10.98 and a 1-year high of $17.07. The firm has a market cap of $1.41 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 4.25 and a beta of 0.44. The business's 50 day moving average price is $12.89 and its 200-day moving average price is $14.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business had revenue of $84.21 million during the quarter, compared to the consensus estimate of $84.05 million. During the same period in the prior year, the company posted $0.04 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts forecast that Kimbell Royalty Partners will post 0.65 EPS for the current year.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This represents a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Kimbell Royalty Partners during the fourth quarter valued at approximately $30,449,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kimbell Royalty Partners by 604.9% in 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 during the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Kimbell Royalty Partners in the first quarter valued at about $10,150,000. Epoch Investment Partners Inc. increased its position in Kimbell Royalty Partners by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company's stock worth $9,414,000 after purchasing an additional 464,142 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in Kimbell Royalty Partners in the first quarter worth about $6,300,000. Institutional investors own 25.78% of the company's stock.

Kimbell Royalty Partners Company Profile