Kimbell Royalty Partners (NYSE:KRP) Given New $22.00 Price Target at Truist Financial

Kimbell Royalty Partners (NYSE:KRP) had its target price increased by research analysts at Truist Financial from $21.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s price target suggests a potential upside of 39.24% from the company’s current price.

Separately, KeyCorp cut their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Kimbell Royalty Partners Trading Up 1.5 %

KRP traded up $0.24 on Monday, reaching $15.80. 75,121 shares of the company traded hands, compared to its average volume of 1,324,753. Kimbell Royalty Partners has a one year low of $14.26 and a one year high of $17.07. The firm has a fifty day simple moving average of $15.97 and a two-hundred day simple moving average of $16.07. The company has a market cap of $1.51 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 1.95 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.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. As a group, equities research analysts expect that Kimbell Royalty Partners will post 0.69 earnings per share for the current year.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in Kimbell Royalty Partners in the 4th quarter worth $49,000. Nordea Investment Management AB grew its holdings in shares of Kimbell Royalty Partners by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock worth $1,801,000 after buying an additional 2,066 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kimbell Royalty Partners by 65.4% during the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock worth $693,000 after buying an additional 17,029 shares in the last quarter. Barclays PLC grew its holdings in shares of Kimbell Royalty Partners by 1,175.1% during the third quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after buying an additional 12,538 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Kimbell Royalty Partners during the third quarter worth $79,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners