Truist Financial Lowers Kimbell Royalty Partners (NYSE:KRP) Price Target to $21.00

Kimbell Royalty Partners (NYSE:KRP - Free Report) had its price target lowered by Truist Financial from $22.00 to $21.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the energy company's stock.

KRP has been the subject of a number of other reports. TD Securities cut their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a buy rating for the company in a report on Thursday, February 22nd. KeyCorp cut their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an overweight rating for the company in a report on Thursday, January 11th. Finally, Raymond James cut their target price on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $20.86.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP traded up $0.11 during trading on Friday, hitting $16.13. The company's stock had a trading volume of 240,099 shares, compared to its average volume of 360,066. The company has a 50-day moving average of $15.43 and a 200-day moving average of $15.46. Kimbell Royalty Partners has a 12 month low of $14.02 and a 12 month high of $17.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 17.53 and a beta of 1.08.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.13). Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The business had revenue of $99.20 million during the quarter, compared to the consensus estimate of $83.89 million. During the same quarter last year, the company earned $0.48 EPS. Kimbell Royalty Partners's revenue for the quarter was up 44.4% on a year-over-year basis. On average, sell-side analysts expect that Kimbell Royalty Partners will post 1.14 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were issued a $0.43 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.72 dividend on an annualized basis and a yield of 10.66%. Kimbell Royalty Partners's dividend payout ratio is presently 186.96%.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 27,163 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total value of $421,298.13. Following the completion of the transaction, the director now directly owns 299,030 shares in the company, valued at $4,637,955.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Brett G. Taylor sold 27,163 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the transaction, the director now owns 299,030 shares in the company, valued at $4,637,955.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brett G. Taylor sold 16,889 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $15.71, for a total transaction of $265,326.19. Following the transaction, the director now owns 326,193 shares in the company, valued at approximately $5,124,492.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,672 shares of company stock worth $1,571,185. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several hedge funds have recently modified their holdings of KRP. Vanguard Group Inc. boosted its position in Kimbell Royalty Partners by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 388,980 shares of the energy company's stock valued at $5,854,000 after buying an additional 5,269 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its position in Kimbell Royalty Partners by 8.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 77,423 shares of the energy company's stock valued at $1,165,000 after buying an additional 6,261 shares during the last quarter. Barclays PLC boosted its position in Kimbell Royalty Partners by 11.0% in the fourth quarter. Barclays PLC now owns 13,216 shares of the energy company's stock valued at $199,000 after buying an additional 1,307 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $227,000. Finally, Board of Trustees of The Leland Stanford Junior University boosted its position in Kimbell Royalty Partners by 148.1% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company's stock valued at $1,680,000 after buying an additional 66,638 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Kimbell Royalty Partners Company Profile