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

Kimbell Royalty Partners (NYSE:KRP - Free Report) had its target price cut by Bank of America from $16.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the energy company's stock.

A number of other analysts have also recently issued reports on KRP. Truist Financial cut Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Tuesday. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday.

Kimbell Royalty Partners Trading Down 0.8 %

Shares of NYSE KRP traded down $0.11 on Tuesday, reaching $13.73. 1,703,320 shares of the company traded hands, compared to its average volume of 1,061,365. Kimbell Royalty Partners has a fifty-two week low of $13.53 and a fifty-two week high of $17.07. The company has a 50 day moving average of $15.68 and a 200 day moving average of $15.85. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.31 billion, a PE ratio of 26.92, a P/E/G ratio of 4.25 and a beta of 1.08.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.66%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio is currently -1,454.55%.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. raised its stake 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 valued at $35,842,000 after acquiring an additional 294,789 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kimbell Royalty Partners by 14.6% in 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 buying an additional 82,499 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Kimbell Royalty Partners by 0.5% in 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 buying an additional 2,200 shares in the last quarter. Finally, Orvieto Partners L.P. acquired a new stake in Kimbell Royalty Partners in the 4th quarter valued at $6,103,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty Partners