Kimbell Royalty Partners (NYSE:KRP) Lowered to Hold Rating by Truist Financial

Kimbell Royalty Partners (NYSE:KRP) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a report released on Tuesday,Briefing.com Automated Import reports. They currently have a $16.00 price target on the energy company’s stock, down from their previous price target of $22.00. Truist Financial’s price objective would indicate a potential upside of 16.15% from the company’s current price.

Separately, Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday.

Kimbell Royalty Partners Stock Down 4.5 %

Shares of KRP traded down $0.65 during trading hours on Tuesday, reaching $13.78. The company’s stock had a trading volume of 560,595 shares, compared to its average volume of 983,827. The company has a 50 day moving average of $15.72 and a two-hundred day moving average of $15.86. 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 firm has a market cap of $1.32 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 4.25 and a beta of 1.08. Kimbell Royalty Partners has a 1-year low of $13.77 and a 1-year high of $17.07.

Institutional Trading of Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners in the 4th quarter valued at $32,000. PNC Financial Services Group Inc. bought a new stake in Kimbell Royalty Partners during the fourth quarter valued at about $32,000. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 2,028 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $49,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Kimbell Royalty Partners in the fourth quarter worth about $55,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners