Kimbell Royalty Partners (NYSE:KRP) Cut to Hold at Truist Financial

Truist Financial lowered shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $16.00 target price on the energy company’s stock, down from their prior target price of $22.00.

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

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $13.36 on Tuesday. The firm has a market cap of $1.28 billion, a P/E ratio of 26.19, a P/E/G ratio of 4.25 and a beta of 1.08. Kimbell Royalty Partners has a one year low of $13.24 and a one year high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The firm’s 50 day moving average price is $15.64 and its 200-day moving average price is $15.83.

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.98%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is presently -1,454.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Kimbell Royalty Partners during the 4th quarter worth $30,449,000. Orvieto Partners L.P. acquired a new stake in shares of Kimbell Royalty Partners in the 4th quarter worth $6,103,000. American Century Companies Inc. lifted its stake in shares of Kimbell Royalty Partners by 15.4% in the fourth quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after purchasing an additional 294,789 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $3,151,000. Finally, Barclays PLC lifted its stake in shares of Kimbell Royalty Partners by 1,279.4% in the fourth quarter. Barclays PLC now owns 187,671 shares of the energy company’s stock valued at $3,046,000 after purchasing an additional 174,066 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile