Royal Bank Of Canada restated their buy rating on shares of Kimbell Royalty (NYSE:KRP) in a report published on Tuesday. Royal Bank Of Canada currently has a $19.00 price target on the energy company’s stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Kimbell Royalty from a hold rating to a sell rating in a research report on Friday, October 27th. Stephens reissued an overweight rating and set a $22.00 price objective (down previously from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. Stifel Nicolaus set a $19.00 price objective on shares of Kimbell Royalty and gave the stock a buy rating in a research report on Friday, August 18th. Finally, Imperial Capital assumed coverage on shares of Kimbell Royalty in a research report on Tuesday, August 15th. They set an outperform rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $21.33.
Kimbell Royalty (NYSE:KRP) traded down $0.10 during trading on Tuesday, reaching $16.87. 1,007 shares of the company were exchanged, compared to its average volume of 11,647. Kimbell Royalty has a fifty-two week low of $15.06 and a fifty-two week high of $20.89. The company has a quick ratio of 8.07, a current ratio of 8.07 and a debt-to-equity ratio of 0.07.
Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.06). The business had revenue of $7.75 million during the quarter, compared to analysts’ expectations of $7.87 million. sell-side analysts forecast that Kimbell Royalty will post 0.22 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be given a $0.31 dividend. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.24 annualized dividend and a yield of 7.35%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada bought a new position in Kimbell Royalty in the 2nd quarter valued at about $164,000. Hollow Brook Wealth Management LLC bought a new position in shares of Kimbell Royalty during the 2nd quarter worth approximately $210,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Kimbell Royalty during the 2nd quarter worth approximately $312,000. Goldman Sachs Group Inc. purchased a new stake in shares of Kimbell Royalty during the 1st quarter worth approximately $999,000. Finally, King Luther Capital Management Corp increased its stake in shares of Kimbell Royalty by 12.3% during the 2nd quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock worth $884,000 after purchasing an additional 5,765 shares during the last quarter. 18.42% of the stock is currently owned by institutional investors and hedge funds.
About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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