Kimbell Royalty Partners (NYSE:KRP) Hits New 52-Week Low - Here's What Happened

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.53 and last traded at $13.73, with a volume of 1703320 shares traded. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Bank of America reduced their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a research note on Tuesday, March 4th. Finally, Truist Financial lowered Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their target price for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th.

Kimbell Royalty Partners Stock Performance

The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $15.55 and a two-hundred day simple moving average of $15.80. The firm has a market cap of $1.45 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 11.84%. Kimbell Royalty Partners's dividend payout ratio is currently -1,454.55%.

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Hedge Funds Weigh In On Kimbell Royalty Partners

Several institutional investors have recently made changes to their positions in the company. AlphaCore Capital LLC increased its stake in shares of Kimbell Royalty Partners by 0.5% during the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company's stock valued at $2,378,000 after buying an additional 675 shares during the period. Carson Advisory Inc. increased its stake in shares of Kimbell Royalty Partners by 1.8% during the third quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company's stock valued at $791,000 after buying an additional 883 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Kimbell Royalty Partners by 30.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock valued at $70,000 after buying an additional 1,000 shares during the period. Virtus ETF Advisers LLC increased its stake in shares of Kimbell Royalty Partners by 10.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company's stock valued at $179,000 after buying an additional 1,035 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Kimbell Royalty Partners by 3.4% during the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company's stock valued at $632,000 after buying an additional 1,298 shares during the period. Hedge funds and other institutional investors own 25.78% of the company's stock.

Kimbell Royalty Partners Company Profile