Kimbell Royalty Partners price target lowered to $14 from $16 at BofA

BofA analyst Noah Hungness lowered the firm’s price target on Kimbell Royalty Partners (KRP) to $14 from $16 and keeps an Underperform rating on the shares. The firm, which lowered estimates to incorporate lower production guidance, notes that the stock has recently underperformed the oil and gas sector and that it sees added downside risk given the impact from the preferred equity and a backwardated oil curve that pushes distribution per share lower in 2026 and 2027.