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

Kimbell Royalty Partners (NYSE:KRP) had its target price dropped by analysts at Bank of America from $16.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the energy company’s stock. Bank of America‘s target price suggests a potential upside of 1.38% from the company’s previous close.

Other analysts also recently issued research reports about the company. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday. Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Tuesday.

Kimbell Royalty Partners Price Performance

KRP stock traded down $0.61 on Tuesday, hitting $13.81. 828,690 shares of the company’s stock traded hands, compared to its average volume of 987,909. Kimbell Royalty Partners has a 1-year low of $13.68 and a 1-year high of $17.07. The stock has a fifty day moving average of $15.72 and a 200-day moving average of $15.86. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 4.25 and a beta of 1.08. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $30,449,000. Orvieto Partners L.P. acquired a new position in Kimbell Royalty Partners during the 4th quarter worth approximately $6,103,000. American Century Companies Inc. grew its stake in shares of Kimbell Royalty Partners by 15.4% during 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Kimbell Royalty Partners in the fourth quarter worth $3,151,000. Finally, Barclays PLC increased its stake in Kimbell Royalty Partners by 1,279.4% in the 4th quarter. Barclays PLC now owns 187,671 shares of the energy company’s stock valued at $3,046,000 after buying an additional 174,066 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

About Kimbell Royalty Partners