Bank of America Has Lowered Expectations for Kimbell Royalty Partners (NYSE:KRP) Stock Price

Kimbell Royalty Partners (NYSE:KRP) had its target price dropped by research analysts at Bank of America from $16.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the energy company’s stock. Bank of America‘s target price points to a potential upside of 1.99% from the company’s previous close.

KRP has been the subject of several other research reports. Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $16.00 in a research report on Tuesday. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday.

Kimbell Royalty Partners Stock Down 0.8 %

KRP opened at $13.73 on Tuesday. The firm has a 50 day moving average price of $15.68 and a 200 day moving average price of $15.85. The company has a market cap of $1.31 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08. Kimbell Royalty Partners has a 1 year low of $13.53 and a 1 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.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new stake in Kimbell Royalty Partners in the fourth quarter worth about $32,000. PNC Financial Services Group Inc. bought a new stake in Kimbell Royalty Partners in the fourth quarter worth about $32,000. Jones Financial Companies Lllp raised its position in Kimbell Royalty Partners by 293.5% in the fourth 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 in the last quarter. Hilltop National Bank purchased a new position in Kimbell Royalty Partners in the 4th quarter worth about $49,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Kimbell Royalty Partners in the 4th quarter worth about $55,000. 25.78% of the stock is currently owned by institutional investors.

About Kimbell Royalty Partners