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

Zacks Investment Research cut shares of Kimbell Royalty Partners (NYSE:KRP) from a hold rating to a sell rating in a report released 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 research analysts have also recently issued research reports about the company. ValuEngine cut Kimbell Royalty Partners from a sell rating to a strong sell rating in a research report on Monday, September 28th. TD Securities assumed coverage on shares of Kimbell Royalty Partners in a research report on Tuesday, July 7th. They set a buy rating and a $18.50 price target on the stock. Royal Bank of Canada reissued a buy rating and issued a $13.00 price objective on shares of Kimbell Royalty Partners in a report on Sunday, July 26th. Raymond James began coverage on Kimbell Royalty Partners in a research note on Monday, July 20th. They issued a strong-buy rating and a $10.00 price target for the company. Finally, Stephens restated an overweight rating and set a $11.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $13.20.

Kimbell Royalty Partners stock opened at $6.10 on Friday. The company’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $7.53. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.36. The stock has a market cap of $364.35 million, a P/E ratio of -1.07 and a beta of 2.16. Kimbell Royalty Partners has a twelve month low of $3.51 and a twelve month high of $17.72.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 6th. The energy company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.22. The company had revenue of $12.80 million for the quarter, compared to the consensus estimate of $18.06 million. Kimbell Royalty Partners had a positive return on equity of 5.03% and a negative net margin of 143.18%. Equities analysts anticipate that Kimbell Royalty Partners will post -2.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be given a dividend of $0.19 per share. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.13. This represents a $0.76 annualized dividend and a dividend yield of 12.46%. The ex-dividend date of this dividend is Friday, October 30th. Kimbell Royalty Partners’s dividend payout ratio is currently 15.43%.

A number of institutional investors have recently added to or reduced their stakes in KRP. Advisor Group Holdings Inc. lifted its holdings in shares of Kimbell Royalty Partners by 31.5% in the second quarter. Advisor Group Holdings Inc. now owns 6,575 shares of the energy company’s stock worth $57,000 after acquiring an additional 1,575 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Kimbell Royalty Partners by 107.3% during the 1st quarter. Invesco Ltd. now owns 135,016 shares of the energy company’s stock valued at $787,000 after purchasing an additional 69,889 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Kimbell Royalty Partners by 76.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 137,895 shares of the energy company’s stock worth $1,186,000 after purchasing an additional 59,888 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at approximately $176,000. Finally, California Public Employees Retirement System lifted its stake in Kimbell Royalty Partners by 527.6% in the 2nd quarter. California Public Employees Retirement System now owns 71,023 shares of the energy company’s stock valued at $611,000 after purchasing an additional 59,707 shares during the last quarter. Hedge funds and other institutional investors own 27.03% of the company’s stock.

About Kimbell Royalty Partners

Kimbell Royalty Partners, LP acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2019, the company owned mineral and royalty interests in approximately 8.9 million gross acres and overriding royalty interests in approximately 4.6 million gross acres.

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