Kimbell Royalty Partners (NYSE:KRP) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $19.00 target price on the energy company’s stock. Stifel Nicolaus’ price target points to a potential upside of 6.15% from the company’s previous close.
A number of other equities analysts also recently issued reports on KRP. Zacks Investment Research downgraded Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Raymond James increased their price objective on Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 16th.
KRP traded down $0.64 during trading on Friday, reaching $17.90. The stock had a trading volume of 205,394 shares, compared to its average volume of 67,167. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.22. The company has a market cap of $497.60 million, a price-to-earnings ratio of 168.54 and a beta of 1.10. Kimbell Royalty Partners has a one year low of $15.70 and a one year high of $24.50.
Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, November 8th. The energy company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.29). The firm had revenue of $18.41 million during the quarter, compared to the consensus estimate of $22.48 million. Kimbell Royalty Partners had a positive return on equity of 0.29% and a negative net margin of 108.86%. On average, analysts predict that Kimbell Royalty Partners will post 0.48 EPS for the current year.
In related news, Director Erik B. Daugbjerg purchased 1,500 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, September 4th. The stock was purchased 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 directly owns 4,978 shares of the company’s stock, valued at $112,104.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erik B. Daugbjerg purchased 2,500 shares of Kimbell Royalty Partners stock in a transaction dated Thursday, September 6th. The shares were bought at an average price of $22.14 per share, with a total value of $55,350.00. Following the completion of the acquisition, the director now directly owns 7,978 shares of the company’s stock, valued at $176,632.92. The disclosure for this purchase can be found here. Insiders have bought 5,500 shares of company stock valued at $121,160 over the last 90 days. Corporate insiders own 14.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Trustcore Financial Services LLC increased its holdings in shares of Kimbell Royalty Partners by 462.5% during the third quarter. Trustcore Financial Services LLC now owns 11,250 shares of the energy company’s stock valued at $221,000 after acquiring an additional 9,250 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Kimbell Royalty Partners during the second quarter valued at $381,000. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Kimbell Royalty Partners during the third quarter valued at $883,000. BlackRock Inc. purchased a new stake in shares of Kimbell Royalty Partners during the third quarter valued at $981,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Kimbell Royalty Partners during the second quarter valued at $1,117,000. Hedge funds and other institutional investors own 17.34% of the company’s stock.
Kimbell Royalty Partners Company Profile
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.
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