Kimbell Royalty Partners (NYSE:KRP) Downgraded by Truist Financial to Hold

Truist Financial downgraded shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat reports. They currently have $16.00 price objective on the energy company’s stock, down from their previous price objective of $22.00.

Separately, Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday.

Kimbell Royalty Partners Price Performance

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

Kimbell Royalty Partners Cuts Dividend

The company 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.56%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is -1,454.55%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. PNC Financial Services Group Inc. acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp lifted its holdings in 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 acquiring an additional 2,028 shares during the period. Hilltop National Bank acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $49,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at approximately $55,000. 25.78% of the stock is owned by institutional investors and hedge funds.

About Kimbell Royalty Partners