Kimbell Royalty (NYSE:KRP)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a report issued on Monday, July 24th. They presently have a $22.00 price objective on the energy company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 37.93% from the company’s previous close.
Separately, Zacks Investment Research upgraded shares of Kimbell Royalty from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $22.75.
Kimbell Royalty (KRP) traded up 2.64% during trading on Monday, hitting $15.95. 3,041 shares of the company were exchanged. Kimbell Royalty has a 12 month low of $15.06 and a 12 month high of $20.89. The company’s market capitalization is $260.50 million. The company has a 50-day moving average of $16.10 and a 200-day moving average of $18.35.
Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings data on Thursday, August 10th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.06. The firm had revenue of $7.75 million for the quarter, compared to analyst estimates of $7.87 million. Analysts forecast that Kimbell Royalty will post $0.29 EPS for the current year.
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In other Kimbell Royalty news, Director William H. Adams III purchased 4,772 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were purchased at an average price of $15.87 per share, for a total transaction of $75,731.64. Following the completion of the purchase, the director now directly owns 5,072 shares of the company’s stock, valued at $80,492.64. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mitch S. Wynne purchased 2,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were acquired at an average price of $16.19 per share, for a total transaction of $32,380.00. Following the purchase, the director now directly owns 22,637 shares of the company’s stock, valued at $366,493.03. The disclosure for this purchase can be found here. Insiders have acquired 11,459 shares of company stock worth $183,572 in the last quarter.
Several hedge funds and other institutional investors have recently modified their holdings of KRP. Lucas Capital Management bought a new position in shares of Kimbell Royalty during the first quarter worth about $975,000. HITE Hedge Asset Management LLC bought a new position in shares of Kimbell Royalty during the first quarter worth about $2,194,000. Stifel Financial Corp acquired a new position in Kimbell Royalty during the first quarter worth about $241,000. Wellington Management Group LLP acquired a new position in Kimbell Royalty during the first quarter worth about $13,766,000. Finally, FMR LLC acquired a new position in Kimbell Royalty during the first quarter worth about $17,094,000. 20.40% of the stock is owned by institutional investors.
About Kimbell Royalty
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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