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

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

A number of other brokerages also recently commented on KRP. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday. Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $16.00 in a report on Tuesday.

Kimbell Royalty Partners Stock Down 2.5 %

Shares of NYSE:KRP opened at $13.36 on Tuesday. 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 $13.24 and a 12 month high of $17.07. The company has a 50-day moving average price of $15.64 and a 200 day moving average price of $15.83. The company 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.

Kimbell Royalty Partners Cuts Dividend

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

Institutional Trading of Kimbell Royalty Partners

Several institutional investors have recently added to or reduced their stakes in KRP. Parkside Financial Bank & Trust bought a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $32,000. PNC Financial Services Group Inc. bought a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp raised 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 valued at $44,000 after acquiring an additional 2,028 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $49,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $55,000. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners