Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report)'s share price was down 5.4% on Monday . The company traded as low as $14.46 and last traded at $14.50. Approximately 601,504 shares were traded during trading, a decline of 35% from the average daily volume of 920,189 shares. The stock had previously closed at $15.32.
Analysts Set New Price Targets
A number of equities analysts recently commented on KRP shares. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday. Truist Financial downgraded shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their target price for the stock from $22.00 to $16.00 in a research note on Tuesday. Finally, Bank of America lowered their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research note on Tuesday.
Check Out Our Latest Report on KRP
Kimbell Royalty Partners Trading Down 2.5 %
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 business's 50 day moving average is $15.64 and its 200 day moving average is $15.83. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 4.25 and a beta of 1.08.
Kimbell Royalty Partners Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 11.98%. Kimbell Royalty Partners's dividend payout ratio is presently -1,454.55%.
Hedge Funds Weigh In On Kimbell Royalty Partners
Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at $32,000. Jones Financial Companies Lllp boosted its stake 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 valued at $44,000 after acquiring an additional 2,028 shares in the last quarter. Hilltop National Bank acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at $49,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Kimbell Royalty Partners in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 25.78% of the company's stock.
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