Kimbell Royalty Partners LP (NYSE:KRP) saw an upside of 2.29% to close Friday at $15.16 after adding $0.34 on the day. The 5-day average trading volume is 432,300 shares of the company’s common stock. It has gained $15.19 in the past week and touched a new high 4 times within the past 5 days. An average of 651,825 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 441,448.
KRP’s 1-month performance is 0.40% or $0.18 on its low of $14.02 reached on 08/03/23. The company’s shares have touched a 52-week low of $13.85 and high of $19.80, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, KRP has lost -9.22% or -$1.54 and has reached a new high 3 times. However, the current price is down -23.43% from the 52-week high price.
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Insider Transactions
KRP stock investors last saw insider trading activity on Jun 06.Wynne Mitch S. (Director) most recently sold 20,000 shares at $14.88 per share on Jun 06. This transaction cost the insider $297,600. Controller, Rhynsburger Blayne, sold 3,000 shares at a price of $15.06 on May 30. Then, on Mar 10, Controller Rhynsburger Blayne sold 2,000 shares at a price of $15.15 per share. This transaction amounted to $30,308.
Valuation Metrics
KRP stock has a beta of 1.34. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.15 while the price-to-book (PB) in the most recent quarter is 1.61.
Kimbell Royalty Partners LP’s quick ratio for the period ended June 29 was 7.00, with the current ratio over the same period at 7.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.45, while the total debt to equity was 0.45. The trailing 12-month EBITDA margin is 78.69% while for the period ending June 29, Kimbell Royalty Partners LP’s operating margin was 52.90%. The firm’s gross profit as reported stood at $136.92 million against revenue of $248.06 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -120.55% to $22.09 million, while revenue of $34.46 million was -56.0% off the previous quarter. Analysts expected KRP to announce $0.15 per share in earnings in its latest quarter, but it posted $0.23, representing a 53.30% surprise. EBITDA for the quarter stood at more than $44.87 million. KRP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 282.24 million, with total debt at $271.67 million. Shareholders hold equity totaling $86.36 million.
Let’s look briefly at Kimbell Royalty Partners LP (KRP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 58.62% to suggest the stock is trending Neutral, with historical volatility in this time period at 18.99%.
The stock’s 5-day moving average is $14.77, reflecting a +3.69% or $0.54 change from its current price. KRP is currently trading +0.80% above its 20-day SMA, +4.12% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +0.73% and SMA200 by-20.38%.
Stochastic %K and %D was 43.70% and 36.44% and the average true range (ATR) pointed at 0.36. The RSI (14) points at 54.66%, while the 14-day stochastic is at 59.07% with the period’s ATR at 0.36. The stock’s 9-day MACD Oscillator is pointing at 0.07 and 0.02 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Kimbell Royalty Partners LP (NYSE: KRP), KeyBanc Capital Markets upgraded it to an Overweight rating. They previously had a Sector weight rating on the stock.
What is KRP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $19.00 and a high of $24.00, with their median price target at $21.50. Looking at these predictions, the average price target given by analysts is for Kimbell Royalty Partners LP (KRP) stock is $21.50.
