KRP Stock Summary and Trading Ideas (Kimbell Royalty Partners Common Units Representing Limited Partner Interests | NYSE:KRP)

Kimbell Royalty Partners LP is an US-based company. It core business is exploration and production of oil and natural gas. The company focuses on acquiring premier quality, long-life, shallow decline oil and gas minerals. It owns mineral and royalty interests which are located in approximately 20 states in nearly onshore basin across the continental United States and include ownership in nearly 48,000 gross producing wells, including nearly 29,000 wells in the Permian Basin. The company also owns interests in the area of Eagle Ford, Bakken, San Juan Basin, Mid-continent, East Texas, Barnett Shale, Marcellus Shale, Niobrara and South California. Majority of the revenue is derived from royalty payments received from the production of oil, natural gas and natural gas liquids.

Kimbell Royalty Partners Common Units Representing Limited Partner Interests trades on the NYSE stock market under the symbol KRP.

As of May 2, 2024, KRP stock price climbed to $15.90 with 228,250 million shares trading.

KRP has a beta of 0.31, meaning it tends to be less sensitive to market movements. KRP has a correlation of 0.04 to the broad based SPY ETF.

KRP has a market cap of $356.16 million. This is considered a Small Cap stock.

In the last 3 years, KRP stock traded as high as $20.08 and as low as $10.00.

KRP has underperformed the market in the last year with a price return of +9.6% while the SPY ETF gained +22.5%. However, in the short term, KRP had mixed performance relative to the market. It has outperformed in the last 3 months, returning +9.0% vs +3.0% return in SPY. But in the last 2 weeks, KRP shares have been beat by the market, returning -0.6% compared to an SPY return of +0.3%.

KRP support price is $15.42 and resistance is $15.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that KRP stock will trade within this expected range on the day.