Kimbell Royalty Partners (NYSE:KRP) Research Coverage Started at Mizuho

Mizuho started coverage on shares of Kimbell Royalty Partners (NYSE:KRP) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $16.00 target price on the energy company’s stock.

KRP has been the subject of a number of other research reports. Bank of America dropped their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, March 4th. Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.80.

Kimbell Royalty Partners Stock Up 0.7 %

Shares of NYSE KRP opened at $14.32 on Monday. Kimbell Royalty Partners has a 12 month low of $13.24 and a 12 month high of $17.07. 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 cap of $1.53 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.25 and a beta of 0.65. The stock has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $15.60.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.17%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -1,454.55%.

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares in the company, valued at $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Kimbell Royalty Partners by 15.4% during the fourth quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after buying an additional 294,789 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at about $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Kimbell Royalty Partners by 14.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after purchasing an additional 82,499 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of Kimbell Royalty Partners by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock worth $7,192,000 after buying an additional 2,200 shares during the period. Finally, Orvieto Partners L.P. purchased a new position in shares of Kimbell Royalty Partners in the fourth quarter worth $6,103,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners