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

Kimbell Royalty Partners (NYSE:KRP) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $16.00 price objective on the energy company’s stock, down from their previous price objective of $22.00. Truist Financial’s target price suggests a potential upside of 16.56% from the company’s current price.

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

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock opened at $13.73 on Tuesday. The firm has a 50 day simple moving average of $15.68 and a 200-day simple moving average of $15.85. 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 current ratio of 5.20 and a quick ratio of 5.20. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several large investors have recently made changes to their positions in KRP. Raymond James Financial Inc. acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth approximately $30,449,000. Orvieto Partners L.P. acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth approximately $6,103,000. American Century Companies Inc. lifted its holdings in 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 buying an additional 294,789 shares in the last quarter. Marshall Wace LLP acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth approximately $3,151,000. Finally, Barclays PLC lifted its holdings in Kimbell Royalty Partners by 1,279.4% during the 4th quarter. Barclays PLC now owns 187,671 shares of the energy company’s stock worth $3,046,000 after buying an additional 174,066 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners