Raymond James Forecasts Strong Price Appreciation for Kimbell Royalty Partners (NYSE:KRP) Stock

Kimbell Royalty Partners (NYSE:KRP) had its price target boosted by stock analysts at Raymond James from $19.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the energy company’s stock. Raymond James’ price target would suggest a potential upside of 43.93% from the company’s current price.

KRP has been the topic of a number of other reports. Truist Financial boosted their price objective on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th. KeyCorp dropped their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock traded up $0.12 during mid-day trading on Thursday, reaching $15.98. 1,808,773 shares of the company’s stock were exchanged, compared to its average volume of 1,189,696. The firm has a market capitalization of $1.53 billion, a PE ratio of 31.33, a P/E/G ratio of 8.37 and a beta of 1.10. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $15.90 and its 200 day simple moving average is $16.03. Kimbell Royalty Partners has a one year low of $14.57 and a one year high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. On average, sell-side analysts expect that Kimbell Royalty Partners will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KRP. AlphaCore Capital LLC raised its stake in shares of Kimbell Royalty Partners by 0.5% during the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after acquiring an additional 675 shares during the last quarter. Centaurus Financial Inc. raised its position in Kimbell Royalty Partners by 4.7% during the 2nd quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after purchasing an additional 823 shares during the last quarter. Carson Advisory Inc. lifted its holdings in Kimbell Royalty Partners by 1.8% in the 3rd quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock worth $791,000 after buying an additional 883 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after buying an additional 1,484 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Kimbell Royalty Partners during the second quarter valued at approximately $25,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Company Profile