Kimbell Royalty Partners (NYSE:KRP) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a research report report published 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. “

A number of other analysts also recently weighed in on the company. TheStreet upgraded Kimbell Royalty Partners from a d+ rating to a c- rating in a research report on Thursday, October 3rd. Wells Fargo & Co dropped their target price on Kimbell Royalty Partners from $20.00 to $19.00 and set an outperform rating for the company in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $19.89.

NYSE:KRP remained flat at $$14.28 during mid-day trading on Friday. The company had a trading volume of 151,044 shares, compared to its average volume of 74,604. The company has a 50 day moving average price of $14.21 and a 200 day moving average price of $15.57. The company has a market capitalization of $337.14 million, a PE ratio of -71.40 and a beta of 1.44. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $18.92. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.13.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 7th. The energy company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.80). The firm had revenue of $32.98 million during the quarter, compared to the consensus estimate of $29.53 million. Kimbell Royalty Partners had a positive return on equity of 2.83% and a negative net margin of 17.53%. Equities research analysts anticipate that Kimbell Royalty Partners will post 0.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Monday, November 4th will be given a $0.42 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.68 annualized dividend and a yield of 11.76%. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.39. Kimbell Royalty Partners’s payout ratio is presently -840.00%.

In related news, Director Brett G. Taylor acquired 2,860 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $14.65 per share, for a total transaction of $41,899.00. Following the completion of the transaction, the director now owns 215,027 shares of the company’s stock, valued at approximately $3,150,145.55. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brett G. Taylor acquired 3,000 shares of the stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $14.25 per share, with a total value of $42,750.00. Following the transaction, the director now directly owns 215,027 shares of the company’s stock, valued at approximately $3,064,134.75. The disclosure for this purchase can be found here. Insiders acquired 15,160 shares of company stock valued at $221,509 in the last quarter. Corporate insiders own 14.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. lifted its position in Kimbell Royalty Partners by 14.0% in the third quarter. Raymond James Trust N.A. now owns 11,793 shares of the energy company’s stock valued at $173,000 after purchasing an additional 1,450 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Kimbell Royalty Partners by 21.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 17,000 shares of the energy company’s stock valued at $250,000 after purchasing an additional 2,950 shares during the last quarter. Lee Financial Co lifted its position in Kimbell Royalty Partners by 1.7% in the second quarter. Lee Financial Co now owns 201,704 shares of the energy company’s stock valued at $3,258,000 after purchasing an additional 3,282 shares during the last quarter. Arrow Investment Advisors LLC lifted its position in Kimbell Royalty Partners by 23.5% in the third quarter. Arrow Investment Advisors LLC now owns 27,318 shares of the energy company’s stock valued at $402,000 after purchasing an additional 5,201 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Kimbell Royalty Partners by 46.7% in the second quarter. JPMorgan Chase & Co. now owns 19,000 shares of the energy company’s stock valued at $309,000 after purchasing an additional 6,050 shares during the last quarter. Hedge funds and other institutional investors own 58.95% 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.

Further Reading: Fundamental Analysis

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.