KeyCorp Cuts Kimbell Royalty Partners (NYSE:KRP) Price Target to $18.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective cut by KeyCorp from $20.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

Other equities analysts have also issued reports about the company. Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America cut their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They issued a “neutral” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Hold” and an average target price of $17.40.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $12.15 on Monday. The company’s fifty day moving average is $13.85 and its two-hundred day moving average is $15.21. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 4.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. Kimbell Royalty Partners has a 52-week low of $10.98 and a 52-week high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 13.17%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its holdings in Kimbell Royalty Partners by 18.2% during the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company’s stock worth $4,619,000 after buying an additional 43,852 shares in the last quarter. Accordant Advisory Group Inc lifted its stake in shares of Kimbell Royalty Partners by 10.3% during the fourth quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after acquiring an additional 19,716 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Kimbell Royalty Partners by 38.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock valued at $4,334,000 after acquiring an additional 74,098 shares during the last quarter. JPMorgan Chase & Co. increased its position in Kimbell Royalty Partners by 65.4% in the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock worth $693,000 after purchasing an additional 17,029 shares during the period. Finally, Barclays PLC raised its holdings in Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after purchasing an additional 12,538 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile