Kimbell Royalty Partners (NYSE:KRP) Given New $14.00 Price Target at Bank of America

Kimbell Royalty Partners (NYSE:KRP) had its price objective cut by Bank of America from $16.00 to $14.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underperform rating on the energy company’s stock.

A number of other analysts have also weighed in on the stock. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $16.00 in a research report on Tuesday. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday.

Kimbell Royalty Partners Stock Down 4.0 %

Shares of NYSE KRP opened at $13.85 on Tuesday. The firm’s 50-day moving average price is $15.72 and its 200-day moving average price is $15.86. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 4.25 and a beta of 1.08. Kimbell Royalty Partners has a 12-month low of $13.63 and a 12-month high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 11.56%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -1,454.55%.

Institutional Trading of Kimbell Royalty Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $32,000. Jones Financial Companies Lllp grew its position in shares of Kimbell Royalty Partners by 293.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after purchasing an additional 2,028 shares during the period. Hilltop National Bank acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $49,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile