RBC Capital reaffirms its buy rating on Kimbell Royalty Partners (KRP)
RBC Capital Analyst TJ Schultz maintained a Buy note on Kimbell Royalty Partners (KRP) on March 5 and set a target price of $ 13.00. The company’s shares closed last Friday at $ 10.72, near its 52-week high of $ 11.52.
According to TipRanks.com, Schultz is a 5-star analyst with an average return of 17.5% and a success rate of 67.0%. Schultz covers the industrial goods sector, focusing on stocks such as Enterprise Products Partners, Oasis Midstream Partners and Equitrans Midstream.
Currently, the analyst consensus on Kimbell Royalty Partners is a moderate buy with an average price target of $ 13.50, which is up 25.2% from current levels. In a report released on February 25, Raymond James also maintained a buy rating on the stock.
Based on Kimbell Royalty Partners’ latest earnings release for the quarter ended Dec.31, the company reported quarterly revenue of $ 25.93 million and GAAP net loss of $ 60.63 million. dollars. In comparison, last year the company achieved sales of $ 27.37 million and recorded a GAAP net loss of $ 47.83 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that in the last quarter the number of insiders selling their KRP shares has increased from the start of the year.
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Kimbell Royalty Partners LP owns and acquires mining interests and royalties in oil and gas properties. The company was founded on October 30, 2015 and is headquartered in Fort Worth, TX.