Shares of Kimbell Royalty (NYSE:KRP) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.25.
A number of research firms have issued reports on KRP. Zacks Investment Research downgraded Kimbell Royalty from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada increased their price objective on Kimbell Royalty from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, April 25th.
Shares of Kimbell Royalty (NYSE KRP) opened at 16.04 on Friday. Kimbell Royalty has a 52 week low of $15.65 and a 52 week high of $20.89. The company’s market cap is $261.97 million. The firm’s 50-day moving average is $17.03 and its 200-day moving average is $18.69.
In related news, Director Mitch S. Wynne purchased 2,000 shares of Kimbell Royalty stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $16.19 per share, for a total transaction of $32,380.00. Following the completion of the acquisition, the director now directly owns 22,637 shares of the company’s stock, valued at $366,493.03. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brett G. Taylor purchased 4,687 shares of Kimbell Royalty stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of $16.10 per share, with a total value of $75,460.70. Following the completion of the acquisition, the director now directly owns 23,646 shares of the company’s stock, valued at $380,700.60. The disclosure for this purchase can be found here. Insiders have bought 11,459 shares of company stock valued at $183,572 over the last 90 days.
Several institutional investors have recently modified their holdings of KRP. Goldman Sachs Group Inc. bought a new position in shares of Kimbell Royalty during the first quarter valued at $999,000. King Luther Capital Management Corp bought a new position in shares of Kimbell Royalty during the first quarter valued at $912,000. Morgan Stanley bought a new position in shares of Kimbell Royalty during the first quarter valued at $4,907,000. FMR LLC bought a new position in shares of Kimbell Royalty during the first quarter valued at $17,094,000. Finally, Wellington Management Group LLP bought a new position in shares of Kimbell Royalty during the first quarter valued at $13,766,000. Hedge funds and other institutional investors own 20.38% of the company’s stock.
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Kimbell Royalty Company Profile
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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