Analysts Set Kimbell Royalty Partners LP (KRP) Target Price at $23.25

Analysts Set Kimbell Royalty Partners LP (KRP) Target Price at $23.25

Kimbell Royalty Partners LP (NYSE:KRP) has been given an average rating of “Buy” by the six ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $23.25.

A number of research analysts have weighed in on the stock. Wunderlich assumed coverage on shares of Kimbell Royalty Partners in a research report on Monday, February 13th. They set a “buy” rating and a $23.00 price target on the stock. Stephens began coverage on shares of Kimbell Royalty Partners in a research note on Monday, February 27th. They set an “overweight” rating on the stock. Raymond James Financial, Inc. began coverage on shares of Kimbell Royalty Partners in a research note on Tuesday, February 28th. They set a “strong-buy” rating and a $25.00 price objective on the stock. Royal Bank of Canada began coverage on shares of Kimbell Royalty Partners in a research note on Tuesday, February 28th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on shares of Kimbell Royalty Partners in a research note on Tuesday, February 28th. They set a “buy” rating and a $21.00 price objective on the stock.

Shares of Kimbell Royalty Partners (NYSE:KRP) traded up 0.58% during midday trading on Wednesday, reaching $18.94. 45,453 shares of the company traded hands. The stock’s market capitalization is $309.33 million. The company’s 50 day moving average is $19.29 and its 200-day moving average is $19.44. Kimbell Royalty Partners has a 12 month low of $18.06 and a 12 month high of $20.89.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 8th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.86%.

In other news, insider Jeff Mcinnis acquired 2,777 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were bought at an average price of $18.00 per share, for a total transaction of $49,986.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director T Scott Martin acquired 9,041 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average price of $6.64 per share, for a total transaction of $60,032.24. Following the purchase, the director now directly owns 3,333 shares of the company’s stock, valued at $22,131.12. The disclosure for this purchase can be found here.

An institutional investor recently bought a new position in Kimbell Royalty Partners stock. Lucas Capital Management acquired a new position in shares of Kimbell Royalty Partners LP (NYSE:KRP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the energy company’s stock, valued at approximately $975,000. Lucas Capital Management owned approximately 0.31% of Kimbell Royalty Partners at the end of the most recent quarter.

Kimbell Royalty Partners 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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