Zacks Investment Research Lowers Kimbell Royalty Partners (KRP) to Sell

Zacks Investment Research lowered shares of Kimbell Royalty Partners (NYSE:KRP) from a hold rating to a sell rating in a report issued on Saturday morning, 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. “

Other equities analysts also recently issued reports about the company. Stifel Nicolaus upgraded Kimbell Royalty Partners from a hold rating to a buy rating and set a $19.00 price target for the company in a research note on Thursday, May 9th. Stephens began coverage on Kimbell Royalty Partners in a research note on Thursday, April 11th. They issued an overweight rating and a $22.00 price target for the company. Imperial Capital reiterated an outperform rating and issued a $20.00 price target (up from $18.00) on shares of Kimbell Royalty Partners in a research note on Monday, March 11th. Finally, Raymond James set a $22.00 price target on Kimbell Royalty Partners and gave the stock a buy rating in a research note on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $20.67.

NYSE:KRP opened at $17.94 on Friday. The stock has a market capitalization of $383.38 million, a P/E ratio of -89.70 and a beta of 1.93. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $24.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 9.90 and a quick ratio of 9.90.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 9th. The energy company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $17.95 million during the quarter, compared to analyst estimates of $22.32 million. Kimbell Royalty Partners had a positive return on equity of 1.22% and a negative net margin of 9.87%. On average, analysts predict that Kimbell Royalty Partners will post 0.24 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 8.25%. Kimbell Royalty Partners’s payout ratio is currently -740.00%.

In other Kimbell Royalty Partners news, major shareholder Minerals & Royalties Haymaker sold 3,200,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $16.25, for a total value of $52,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 3,200,728 shares of company stock valued at $52,013,293. 14.20% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. boosted its stake in Kimbell Royalty Partners by 1,025.2% in the fourth quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after acquiring an additional 2,563 shares during the period. Barclays PLC acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $113,000. Corundum Group Inc. acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $153,000. JPMorgan Chase & Co. acquired a new position in Kimbell Royalty Partners in the first quarter valued at approximately $237,000. Finally, Trustcore Financial Services LLC boosted its stake in Kimbell Royalty Partners by 42.8% in the first quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock valued at $293,000 after acquiring an additional 4,810 shares during the period. Institutional investors own 65.41% of the company’s stock.

Kimbell Royalty Partners Company Profile

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.

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Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

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