Kimbell Royalty (KRP) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

Separately, Royal Bank of Canada reiterated a buy rating and issued a $19.00 price target on shares of Kimbell Royalty in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $21.33.

Kimbell Royalty (KRP) opened at $16.26 on Tuesday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.08. Kimbell Royalty has a 1-year low of $15.06 and a 1-year high of $20.89.

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Kimbell Royalty by 16.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the energy company’s stock valued at $340,000 after buying an additional 2,968 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Kimbell Royalty by 12.3% in the second quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock valued at $884,000 after buying an additional 5,765 shares during the period. Royal Bank of Canada acquired a new position in shares of Kimbell Royalty in the second quarter valued at approximately $164,000. Signature Financial Management Inc. acquired a new position in shares of Kimbell Royalty in the third quarter valued at approximately $185,000. Finally, HITE Hedge Asset Management LLC boosted its holdings in shares of Kimbell Royalty by 20.9% in the third quarter. HITE Hedge Asset Management LLC now owns 136,014 shares of the energy company’s stock valued at $2,146,000 after buying an additional 23,524 shares during the period. Institutional investors own 21.82% of the company’s stock.

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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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