Bank of America Lowers Kimbell Royalty Partners (NYSE:KRP) Price Target to $14.00

Kimbell Royalty Partners (NYSE:KRP) had its price target reduced by Bank of America from $16.00 to $14.00 in a research note published on Tuesday,Benzinga reports. Bank of America currently has an underperform rating on the energy company’s stock.

KRP has been the topic of several other reports. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $16.00 in a report on Tuesday.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $13.36 on Tuesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 4.25 and a beta of 1.08. The company’s 50 day moving average is $15.64 and its 200 day moving average is $15.83. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 52-week low of $13.24 and a 52-week high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.98%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Hedge Funds Weigh In On Kimbell Royalty Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust purchased a new position in Kimbell Royalty Partners in the fourth quarter worth $32,000. PNC Financial Services Group Inc. acquired a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth $32,000. Jones Financial Companies Lllp lifted its stake in shares of Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after buying an additional 2,028 shares during the period. Hilltop National Bank acquired a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth $49,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth $55,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile