Kimbell Royalty Partners (NYSE:KRP) Price Target Lowered to $18.00 at KeyCorp

Kimbell Royalty Partners (NYSE:KRP) had its target price cut by KeyCorp from $20.00 to $18.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other equities analysts also recently issued reports about the company. Mizuho began coverage on Kimbell Royalty Partners in a research note on Monday, March 31st. They issued a “neutral” rating and a $16.00 target price for the company. Bank of America lowered their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Finally, Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kimbell Royalty Partners presently has a consensus rating of “Hold” and an average target price of $17.40.

Kimbell Royalty Partners Trading Down 3.2 %

NYSE KRP opened at $12.15 on Monday. 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 one year low of $10.98 and a one year high of $17.07. The company has a 50-day simple moving average of $13.85 and a 200-day simple moving average of $15.21. The firm has a market capitalization of $1.30 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 13.17%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust bought a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at approximately $32,000. PNC Financial Services Group Inc. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter worth $32,000. Lowe Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty Partners during the 1st quarter worth $34,000. GAMMA Investing LLC acquired a new position in Kimbell Royalty Partners in the 1st quarter valued at $34,000. Finally, Jones Financial Companies Lllp lifted its position in Kimbell Royalty Partners by 293.5% during the 4th 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 last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Company Profile