Kimbell Royalty Partners (NYSE:KRP) Shares Gap Up – Here’s Why

Kimbell Royalty Partners, LP (NYSE:KRP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.86, but opened at $16.21. Kimbell Royalty Partners shares last traded at $15.94, with a volume of 1,613,045 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KRP shares. KeyCorp decreased their target price on 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. Truist Financial increased their price objective on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Kimbell Royalty Partners Stock Up 0.8 %

The stock has a market capitalization of $1.53 billion, a PE ratio of 31.33, a PEG ratio of 8.37 and a beta of 1.10. The firm’s fifty day moving average is $15.90 and its 200-day moving average is $16.03. 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 released its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, equities research analysts predict that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 10.26%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of hedge funds have recently made changes to their positions in KRP. Accordant Advisory Group Inc increased its position in Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after acquiring an additional 19,716 shares in the last quarter. Mirador Capital Partners LP boosted its stake in shares of Kimbell Royalty Partners by 9.4% in the 4th quarter. Mirador Capital Partners LP now owns 57,828 shares of the energy company’s stock valued at $939,000 after purchasing an additional 4,951 shares during the last quarter. Hilltop National Bank bought a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at about $49,000. Nordea Investment Management AB boosted its stake in shares of Kimbell Royalty Partners by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock valued at $1,801,000 after purchasing an additional 2,066 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Kimbell Royalty Partners by 65.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock valued at $693,000 after purchasing an additional 17,029 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile