Kimbell Royalty Partners (NYSE:KRP) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Kimbell Royalty Partners (NYSE:KRP) from a sell rating to a hold rating in a research note released on Saturday, Zacks.com reports.

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. “

Several other research firms have also issued reports on KRP. Credit Suisse Group raised shares of Kimbell Royalty Partners from a neutral rating to an outperform rating and set a $20.00 target price on the stock in a research note on Monday, May 13th. Stephens set a $23.00 target price on shares of Kimbell Royalty Partners and gave the stock a buy rating in a research note on Wednesday, May 22nd. UBS Group started coverage on shares of Kimbell Royalty Partners in a research note on Friday, May 17th. They set a buy rating and a $22.00 target price on the stock. SunTrust Banks started coverage on shares of Kimbell Royalty Partners in a research note on Monday, June 17th. They set a hold rating and a $19.00 target price on the stock. Finally, Stifel Nicolaus lowered shares of Kimbell Royalty Partners from a buy rating to a hold rating and lowered their target price for the stock from $19.00 to $18.00 in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Kimbell Royalty Partners has a consensus rating of Buy and a consensus price target of $20.63.

NYSE:KRP opened at $14.58 on Friday. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $24.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.07 and a current ratio of 8.07. The stock has a market capitalization of $336.50 million, a price-to-earnings ratio of -72.90 and a beta of 1.48. The firm has a fifty day simple moving average of $15.68.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, August 8th. The energy company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.03 by $0.45. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.96%. The company had revenue of $31.94 million for the quarter, compared to analyst estimates of $27.75 million. On average, research analysts predict that Kimbell Royalty Partners will post 0.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were issued a $0.39 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 10.70%. Kimbell Royalty Partners’s payout ratio is -780.00%.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its stake in shares of Kimbell Royalty Partners by 1,025.2% in the 4th quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after buying an additional 2,563 shares during the period. Raymond James Trust N.A. purchased a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at approximately $167,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at approximately $226,000. Trustcore Financial Services LLC grew its stake in shares of Kimbell Royalty Partners by 42.8% in the 1st quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock valued at $293,000 after buying an additional 4,810 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Kimbell Royalty Partners by 46.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,000 shares of the energy company’s stock valued at $309,000 after buying an additional 6,050 shares during the period. Institutional investors own 48.69% of the company’s stock.

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, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

Featured Story: What is a Derivative?

Get a free copy of the Zacks research report on Kimbell Royalty Partners (KRP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

Receive News & Ratings for Kimbell Royalty Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimbell Royalty Partners and related companies with MarketBeat.com's FREE daily email newsletter.