T. Rowe Price Investment Manageme recently announced the acquisition of new stake in Kimbell Royalty Partners LP (NYSE:KRP). This fresh investment now brings its stake to 2.73% valued currently at $28.83 million. In addition, Ivy Investment Management Co. raised its holdings by 0.54 million to 0.54 million shares.
With over 0.33 million Kimbell Royalty Partners LP (KRP) shares trading Tuesday and a closing price of $17.02 on the day, the dollar volume was approximately $5.56 million. The shares have shown a positive half year performance of 5.65% and its price on 01/17/23 gained nearly 1.01%. Currently, there are 55.44M common shares owned by the public and among those 41.13M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for KRP have a consensus price objective of $24.20. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $23.00. The average price target is 28.58% above its recent price level and an upside to the estimated low will see the stock gain 26.0% over that period. But an upside of 34.54% will see the stock hit the forecast high price target while median target price for the stock is $24.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 10,150,795 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 4,225,905 shares.
The top 3 mutual fund holders in Kimbell Royalty Partners LP are T Rowe Price Small Cap Value Fund, Delaware Ivy Natural Resources Fu, and Avantis US Small Cap Value ETF. T Rowe Price Small Cap Value Fund owns 1.17 million shares of the company’s stock, all valued at over $19.51 million. The company sold 4700.0 shares recently to bring their total holdings to about 1.84% of the shares outstanding. Avantis US Small Cap Value ETF bought 3485.0 shares to bring its total holdings to over 0.37 million shares at a value of $6.16 million. Avantis US Small Cap Value ETF now owns shares totaling to 0.58% of the shares outstanding.
Shares of Kimbell Royalty Partners LP (NYSE: KRP) opened at $16.91, up $0.06 from a prior closing price of $16.85. However, the script later moved the day high at 17.14, up 1.01%. The company’s stock has a 5-day price change of 5.32% and -5.97% over the past three months. KRP shares are trading 1.92% year to date (YTD), with the 12-month market performance up to 9.31% higher. It has a 12-month low price of $13.75 and touched a high of $20.08 over the same period. KRP has an average intraday trading volume of 438.60K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.20%, 0.51%, and -1.61% respectively.
Institutional ownership of Kimbell Royalty Partners LP (NYSE: KRP) shares accounts for 32.90% of the company’s 55.44M shares outstanding. Mutual fund holders own 19.59%, while other institutional holders and individual stakeholders account for 9.07% and 13.57% respectively.
It has a market capitalization of $1.22B and a beta (3y monthly) value of 1.39. The stock’s trailing 12-month PE ratio is 11.44, while the earnings-per-share (ttm) stands at $1.49. The company has a PEG of 3.22 and a Quick Ratio of 2.10 with the debt-to-equity ratio at 0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.43% over the week and 3.25% over the month.
Analysts forecast that Kimbell Royalty Partners LP (KRP) will achieve an EPS of $0.35 for the current quarter, $0.41 for the next quarter and $1.63 for 2023. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.42. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 107.70%, and -6.24% over the next financial year. EPS should shrink at an annualized rate of 3.55% over the next five years, compared to 24.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Kimbell Royalty Partners LP (KRP) as a “Strong Buy” at a consensus score of 1.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Citigroup coverage for the Kimbell Royalty Partners LP (KRP) stock in a research note released on August 25, 2022 offered a Buy rating with a price target of $24. Stephens was of a view on April 14, 2022 that the stock is Overweight, while Wells Fargo gave the stock Overweight rating on November 30, 2021, issuing a price target of $15- $18. Wells Fargo on their part issued Equal Weight rating on March 18, 2021.
