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Truist initates Kimbell Royalty Partners LP (KRP) rating to a Buy

Kimbell Royalty Partners LP’s recently made public that its Director Wynne Mitch S. unloaded Company’s shares for reported $0.45 million on Jun 18 ’24. In the deal valued at $16.16 per share,27,539 shares were sold. As a result of this transaction, Wynne Mitch S. now holds 0 shares worth roughly $0.0.

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Then, Taylor Brett G. sold 50,000 shares, generating $826,000 in total proceeds. Upon selling the shares at $16.52, the Director now owns 249,030 shares.

Before that, Taylor Brett G. sold 27,163 shares. Kimbell Royalty Partners LP shares valued at $421,298 were divested by the Director at a price of $15.51 per share. As a result of the transaction, Taylor Brett G. now holds 299,030 shares, worth roughly $5.01 million.

Truist initiated its Kimbell Royalty Partners LP [KRP] rating to a Buy in a research note published on January 30, 2024; the price target was $22. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in late October with a ‘”a Buy”‘ rating. KeyBanc Capital Markets also remained covering KRP and has increased its forecast on March 07, 2023 with a “an Overweight” recommendation from previously “Sector weight” rating. KeyBanc Capital Markets started covering the stock on September 20, 2022. It rated KRP as “a Sector weight”.

Price Performance Review of KRP

On Tuesday, Kimbell Royalty Partners LP [NYSE:KRP] saw its stock fall -0.83% to $16.77. Over the last five days, the stock has gained 1.45%. Kimbell Royalty Partners LP shares have risen nearly 11.43% since the year began. Nevertheless, the stocks have risen 14.55% over the past one year. While a 52-week high of $17.11 was reached on 06/10/24, a 52-week low of $14.02 was recorded on 01/17/24. SMA at 50 days reached $16.42, while 200 days put it at $15.75. A total of 0.4 million shares were traded, compared to the trading of 0.35 million shares in the previous session.

Levels Of Support And Resistance For KRP Stock

The 24-hour chart illustrates a support level at 16.67, which if violated will result in even more drops to 16.58. On the upside, there is a resistance level at 16.93. A further resistance level may holdings at 17.10. The Relative Strength Index (RSI) on the 14-day chart is 55.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.77%. Stochastics%K at 85.06% indicates the stock is a selling.

The most recent change occurred on August 25, 2022 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating along with a $24 price target.

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