Kimbell Royalty Partners (NYSE:KRP) Stock Rating Lowered by Truist Financial

Truist Financial cut shares of Kimbell Royalty Partners (NYSE:KRP) from a buy rating to a hold rating in a research report sent to investors on Tuesday, MarketBeat reports. They currently have $16.00 price target on the energy company’s stock, down from their previous price target of $22.00.

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

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $13.36 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 one year low of $13.24 and a one year 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 firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.98%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is -1,454.55%.

Institutional Trading of Kimbell Royalty Partners

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after acquiring an additional 294,789 shares during the period. Raymond James Financial Inc. acquired a new position in Kimbell Royalty Partners during the 4th quarter valued at about $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Kimbell Royalty Partners by 14.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after purchasing an additional 82,499 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Kimbell Royalty Partners by 0.5% during the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock valued at $7,192,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Orvieto Partners L.P. bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at about $6,103,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty Partners