The stock of Kimbell Royalty Partners LP (NYSE:KRP) decreased by -$0.27 on Friday to finish at $14.62, down -1.81 percent. The last five days have seen an average of 803,640 shares of common stock traded. 3 times new highs were reached in the current year, with a fall of -$2.08. The average number of shares traded over the last 20 days was 591,345, while the average volume over the last 50 days totaled 430,434.
KRP stock dropped -2.92% since last month. On 08/03/23, the company’s shares reached a one-month low of $14.02. The stock touched a high of $19.80 on 01/17/23, after rallying from a low of $13.85 in 52 weeks. The price of KRP stock has declined by -12.46% or -$2.08 this year, reaching a new high 3 times. Still, the stock price is down -26.16% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
KRP stock investors should be aware that Kimbell Royalty Partners LP (KRP) stock had its last reported insider trading activity 69 days ago on Jun 06. On Jun 06, Director Wynne Mitch S. sold 20,000 shares at $14.88 each. This transaction resulted in the insider making $297,600. On May 30, Rhynsburger Blayne sold 3,000 shares at a price of US$15.06. After the transaction, the insider now owns 53,191 shares. Controller Rhynsburger Blayne had earlier sold 2,000 shares on Mar 10 for $15.15 a share. The transaction was completed for $30,308.
Valuation Metrics
Kimbell Royalty Partners LP (KRP) has a trailing price-to-earnings (P/E) ratio of 9.99. Beta for the stock is 1.34. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.18, the price-to-book (PB) ratio of 1.55.
Company paid $0.39 per share in dividends, an increase of 11.43% from $0.35 last year. A $0.04 dividend increase was reported on Wednesday August 2 2023.
Financial Health
For the three months ended June 29, Kimbell Royalty Partners LP’s quick ratio was 7.00, while its current ratio was 7.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.45, and the total debt to equity ratio is 0.45. Kimbell Royalty Partners LP’s EBITDA margin for the year ended June 29 was 78.69%, whereas its operating margin stood at 52.90% for the same period. Based on annual data, it had gross profit of $136.92 million and revenue of $248.06 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. KRP’s return on assets (ROA) during the last 12 months has been 10.70%. There was a 16.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 18.20%.
Earnings Surprise
According to Kimbell Royalty Partners LP’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $60.75 million, while revenues fell by -19.69% to $66.92 million. It was predicted that Kimbell Royalty Partners LP’s quarterly earnings would be $0.23, but it ended up being $0.15, beating the consensus by 53.30%. EBITDA was $44.87 million for the quarter. At the end of Kimbell Royalty Partners LP’s most recent quarter ended June 29, its liabilities totaled 282.24 million, while its total debt was $271.67 million. Equity owned by shareholders amounts to $86.36 million.
Technical Picture
Here’s a quick look at Kimbell Royalty Partners LP’s (KRP) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 41.24%, suggesting the stock is Neutral, with a 47.63% historical volatility rate.
The stochastic %K and %D were 41.97% and 43.52% respectively, while the average true range (ATR) was 0.41. Based on the 14-day stochastic reading of 31.09%, the RSI (14) reading is 43.73%. On the 9-day MACD Oscillator, the stock is at -0.05, and the 14-day reading is at -0.25.
Analyst Ratings
In its most recent analyst report, KeyBanc Capital Markets raised its rating on Kimbell Royalty Partners LP (NYSE: KRP) to an Overweight. Prior to this, analysts firm rated the stock as a Sector weight. Analysts have assigned Kimbell Royalty Partners LP (KRP) an Buy rating. KRP is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is KRP’s price target for the next 12 months?
The current consensus forecast for the stock is between $19.00 and $23.00, with a median target price of $21.00. In analyzing these forecasts, the average price target given by analysts for Kimbell Royalty Partners LP (KRP) is $21.00.
