Raymond James Reiterates Market Perform Rating for Kimbell Royalty Partners (NYSE:KRP)

Raymond James reiterated their market perform rating on shares of Kimbell Royalty Partners (NYSE:KRP) in a report released on Monday morning, Marketbeat Ratings reports.

Separately, Truist Financial boosted their target price on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Kimbell Royalty Partners Stock Performance

Shares of NYSE KRP opened at $13.73 on Monday. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 12 month low of $13.53 and a 12 month high of $17.07. The company has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $15.85. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 4.25 and a beta of 1.08.

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.66%. 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

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $32,000. Jones Financial Companies Lllp raised its position in 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 acquiring an additional 2,028 shares during the period. Hilltop National Bank acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $49,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $55,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners