Kimbell Royalty (NYSE:KRP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen has upgraded Kimbell Royalty (NYSE:KRP) from a "hold" rating to a "buy" rating, indicating increased confidence in the stock's performance.
• Kimbell Royalty reported earnings of $0.02 per share for the last quarter, missing analysts' estimates by $0.12, but saw a 12.9% increase in revenue year-over-year.
• The stock is currently trading at approximately $13.35, with a consensus rating of "Hold" and an average target price of $17.20 from analysts.

Kimbell Royalty (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 released on Saturday.

KRP has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Zacks Research lowered shares of Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.20.

Kimbell Royalty Stock Up 2.1%

Shares of Kimbell Royalty stock traded up $0.29 during trading on Friday, hitting $13.84. The company's stock had a trading volume of 29,667 shares, compared to its average volume of 713,992. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.45 and a current ratio of 5.45. The company has a fifty day simple moving average of $14.09 and a two-hundred day simple moving average of $13.61. The company has a market capitalization of $1.49 billion, a PE ratio of -345.88 and a beta of 0.57. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $16.99.

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

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 3,600 shares of Kimbell Royalty stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $13.74, for a total transaction of $49,464.00. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty

Several hedge funds have recently modified their holdings of KRP. Bessemer Group Inc. purchased a new position in shares of Kimbell Royalty in the first quarter worth $29,000. GAMMA Investing LLC purchased a new stake in Kimbell Royalty during the first quarter valued at $34,000. Lowe Wealth Advisors LLC purchased a new stake in Kimbell Royalty during the first quarter valued at $34,000. Hilltop National Bank purchased a new stake in Kimbell Royalty during the second quarter valued at $42,000. Finally, Chilton Capital Management LLC purchased a new stake in Kimbell Royalty during the first quarter valued at $44,000. Hedge funds and other institutional investors own 25.78% of the company's stock.

About Kimbell Royalty