Raymond James restated their market perform rating on shares of Kimbell Royalty Partners (NYSE:KRP - Free Report) in a research note published on Monday morning, Marketbeat reports.
Separately, Truist Financial boosted their target price on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, January 13th.
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Kimbell Royalty Partners Price Performance
Shares of KRP stock traded down $0.34 on Monday, reaching $13.36. The company had a trading volume of 2,280,133 shares, compared to its average volume of 1,089,726. The stock has a market capitalization of $1.28 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08. 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's 50-day moving average is $15.64 and its 200 day moving average is $15.83. Kimbell Royalty Partners has a one year low of $13.24 and a one year high of $17.07.
Kimbell Royalty Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be given a dividend of $0.40 per share. 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
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter worth $30,449,000. Orvieto Partners L.P. acquired a new position in Kimbell Royalty Partners during the 4th quarter worth about $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 during the period. Marshall Wace LLP bought a new stake in shares of Kimbell Royalty Partners in the 4th quarter valued at about $3,151,000. Finally, Barclays PLC increased its stake in shares of Kimbell Royalty Partners by 1,279.4% in the fourth quarter. Barclays PLC now owns 187,671 shares of the energy company's stock valued at $3,046,000 after buying an additional 174,066 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.
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