Shares of Kimbell Royalty Partners LP (KRP) plunged 5.16% on Monday, following a downgrade by Raymond James from Strong Buy to Market Perform.
Analysts at Raymond James lowered their rating on KRP, citing concerns about the company's growth prospects and valuations. According to FactSet data, analysts polled have an average rating of "Overweight" and a mean price target of $21 on the stock.
The downgrade comes amid a broader sell-off in the energy sector, as analysts weigh in on various companies, including Kinder Morgan (KMI). The sector has been under pressure due to concerns about global economic growth and its impact on energy demand.
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