Zacks Investment Research upgraded shares of Kimbell Royalty Partners (NYSE:KRP) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The brokerage currently has $21.00 target price on the energy company’s stock.
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 reports about the company. Stifel Nicolaus reissued a buy rating and issued a $24.00 target price (down from $25.00) on shares of Kimbell Royalty Partners in a research report on Friday, August 10th. Raymond James upped their target price on Kimbell Royalty Partners from $29.00 to $30.00 and gave the company a strong-buy rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $24.20.
NYSE KRP opened at $18.62 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.21 and a current ratio of 2.21. Kimbell Royalty Partners has a 1 year low of $15.70 and a 1 year high of $24.50. The firm has a market capitalization of $509.40 million, a P/E ratio of 143.23 and a beta of 1.95.
Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, August 9th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). Kimbell Royalty Partners had a negative net margin of 126.81% and a positive return on equity of 1.93%. The firm had revenue of $10.71 million during the quarter, compared to analyst estimates of $10.95 million. On average, analysts expect that Kimbell Royalty Partners will post 0.46 earnings per share for the current fiscal year.
In other Kimbell Royalty Partners news, Director Erik B. Daugbjerg purchased 2,500 shares of the stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $22.14 per share, with a total value of $55,350.00. Following the completion of the acquisition, the director now owns 7,978 shares in the company, valued at $176,632.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erik B. Daugbjerg purchased 1,500 shares of the stock in a transaction on Tuesday, September 4th. The stock was acquired at an average cost of $22.52 per share, for a total transaction of $33,780.00. Following the completion of the acquisition, the director now owns 4,978 shares of the company’s stock, valued at approximately $112,104.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,500 shares of company stock worth $121,160. 14.20% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Yorktown Energy Partners X L.P. purchased a new stake in Kimbell Royalty Partners in the second quarter valued at $20,382,000. Raymond James & Associates purchased a new stake in Kimbell Royalty Partners in the second quarter valued at $381,000. Renaissance Technologies LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at $1,117,000. Finally, SG Capital Management LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at $1,366,000. 17.39% of the stock is currently owned by institutional investors.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
See Also: Ex-Dividend
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