Kimbell Royalty (NYSE:KRP) Downgraded to Hold Rating by Zacks Research

Kimbell Royalty (NYSE:KRP) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Mizuho boosted their target price on Kimbell Royalty from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a report on Monday, November 24th. Citigroup dropped their target price on shares of Kimbell Royalty from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Kimbell Royalty in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $15.80.

Kimbell Royalty Price Performance

KRP stock opened at $12.85 on Thursday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -183.50, a PEG ratio of 4.44 and a beta of 0.32. The firm’s 50-day moving average price is $12.22 and its two-hundred day moving average price is $13.25. The company has a current ratio of 5.39, a quick ratio of 5.39 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a 12-month low of $10.98 and a 12-month high of $16.14.

Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $80.62 million for the quarter, compared to the consensus estimate of $82.68 million. Kimbell Royalty had a return on equity of 12.51% and a net margin of 10.66%.Kimbell Royalty’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, equities analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On Kimbell Royalty

Several hedge funds have recently bought and sold shares of the business. Hilltop National Bank purchased a new stake in Kimbell Royalty in the second quarter worth about $42,000. Legacy Investment Solutions LLC purchased a new stake in shares of Kimbell Royalty in the 2nd quarter worth approximately $56,000. State of Wyoming purchased a new stake in shares of Kimbell Royalty in the 3rd quarter worth approximately $62,000. Sowell Financial Services LLC bought a new position in Kimbell Royalty during the 4th quarter valued at approximately $120,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Kimbell Royalty during the fourth quarter valued at $130,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.