Kimbell Royalty (NYSE:KRP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
According to Zacks, “Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties. Kimbell Royalty Partners, LP is based in Fort Worth, Texas. “
Other equities analysts also recently issued research reports about the company. Imperial Capital assumed coverage on Kimbell Royalty in a research report on Tuesday, August 15th. They set an “outperform” rating and a $20.00 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 target price on shares of Kimbell Royalty in a research report on Monday, July 24th. Stephens reissued an “overweight” rating and set a $22.00 target price (down previously from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. Finally, Stifel Nicolaus set a $19.00 target price on Kimbell Royalty and gave the company a “buy” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.83.
Kimbell Royalty (NYSE KRP) opened at 16.39 on Friday. The stock has a 50 day moving average of $16.20 and a 200 day moving average of $17.03. The company’s market cap is $270.37 million. Kimbell Royalty has a one year low of $15.06 and a one year high of $20.89.
Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.06). The firm had revenue of $7.75 million during the quarter, compared to analysts’ expectations of $7.87 million. On average, analysts anticipate that Kimbell Royalty will post $0.18 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new position in Kimbell Royalty in the 2nd quarter valued at $164,000. Stifel Financial Corp purchased a new stake in shares of Kimbell Royalty in the 1st quarter worth $241,000. Hollow Brook Wealth Management LLC purchased a new stake in shares of Kimbell Royalty in the 2nd quarter worth $210,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Kimbell Royalty in the 2nd quarter worth $312,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Kimbell Royalty in the 1st quarter worth $999,000. 18.40% of the stock is currently owned by institutional investors.
About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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