Kimbell Royalty Partners LP (NYSE: KRP) stock fell -0.51% on Friday to $15.53 against a previous-day closing price of $15.61. With 0.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.42 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $15.63 whereas the lowest price it dropped to was $15.40. The 52-week range on KRP shows that it touched its highest point at $19.80 and its lowest point at $13.85 during that stretch. It currently has a 1-year price target of $22.00. With its current market cap of 1.46 billion, KRP has annualized dividend of $1.71 while the current yield stands at 11.01%. Beta for the stock currently stands at 1.33.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KRP was up-trending over the past week, with a rise of 0.71%, but this was up by 6.30% over a month. Three-month performance surged to 4.16% while six-month performance rose 5.86%. The stock lost -12.70% in the past year, while it has lost -7.01% so far this year. A look at the trailing 12-month EPS for KRP yields 1.46 with Next year EPS estimates of 1.45. For the next quarter, that number is 0.31. This implies an EPS growth rate of 358.30% for this year and 22.15% for next year. EPS is expected to grow by 3.55% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 87.10%.
Float and Shares Shorts:
At present, 63.27 million KRP shares are outstanding with a float of 56.14 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.58 million, which was 0.80% higher than short shares on Jul 30, 2023. In addition to Mr. Robert Dean Ravnaas as the firm’s Chairman & CEO of Kimbell Royalty GP LLC, Mr. Brett G. Taylor serves as its Exec. Vice Chairman of Kimbell Royalty GP LLC.
Institutional Ownership:
Through their ownership of 45.87% of KRP’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.98% of KRP, in contrast to 17.66% held by mutual funds. Shares owned by individuals account for 13.17%. As the largest shareholder in KRP with 2.51% of the stake, Epoch Investment Partners, Inc. holds 1,822,834 shares worth 1,822,834. A second-largest stockholder of KRP, Macquarie Investment Management B, holds 1,050,923 shares, controlling over 1.44% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in KRP, holding 1,036,665 shares or 1.43% stake. With a 0.86% stake in KRP, the Avantis US Small Cap Value ETF is the largest stakeholder. A total of 628,746 shares are owned by the mutual fund manager. The Delaware Ivy Natural Resources Fu, which owns about 0.71% of KRP stock, is the second-largest Mutual Fund holder. It holds 513,971 shares valued at 7.89 million. T Rowe Price Small Cap Stock Fund holds 0.65% of the stake in KRP, owning 468,937 shares worth 7.2 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, KRP reported revenue of $79.80M and operating income of $51.01M. The EBITDA in the recently reported quarter was $66.87M and diluted EPS was $0.55.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KRP analysts setting a high price target of $24.00 and a low target of $20.00, the average target price over the next 12 months is $22.00. Based on these targets, KRP could surge 54.54% to reach the target high and rise by 28.78% to reach the target low. Reaching the average price target will result in a growth of 41.66% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded KRP stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 795,208 while 266,644 shares were sold.
