Kimbell Royalty Partners (NYSE:KRP) Sets New 12-Month Low – Here’s What Happened

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

Analysts Set New Price Targets

A number of research analysts have weighed in on KRP shares. Bank of America cut their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Tuesday. Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $16.00 in a research report on Tuesday. Finally, Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday.

Kimbell Royalty Partners Stock Down 0.8 %

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 company has a market capitalization of $1.31 billion, a P/E ratio of 26.92, a PEG ratio of 4.25 and a beta of 1.08. The firm’s 50 day moving average price is $15.68 and its two-hundred day moving average price is $15.85.

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently -1,454.55%.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaCore Capital LLC increased its position in shares of Kimbell Royalty Partners by 0.9% during the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company’s stock worth $2,421,000 after purchasing an additional 1,350 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Kimbell Royalty Partners by 760.0% in the fourth quarter. Sunbelt Securities Inc. now owns 6,450 shares of the energy company’s stock valued at $104,000 after buying an additional 5,700 shares in the last quarter. Vident Advisory LLC increased its holdings in Kimbell Royalty Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock worth $500,000 after buying an additional 1,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kimbell Royalty Partners by 14.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock worth $10,511,000 after acquiring an additional 82,499 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its stake in Kimbell Royalty Partners by 87.3% in the fourth quarter. Graham Capital Management L.P. now owns 47,037 shares of the energy company’s stock valued at $763,000 after acquiring an additional 21,923 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Company Profile