Kimbell Royalty Partners initiated with a Buy at Truist

Truist initiated coverage of Kimbell Royalty Partners with a Buy rating and $22 price target. Kimbell is a royalty interest C-Corp that owns minerals interests along with production of 24 mboepd, the analyst tells investors in a research note. The firm estimates a 12%-plus dividend yield this year and 47% upside to its 2025-based $22 price target. the The company has a “high number of line-of-sight wells” providing production upside to maintenance capital, Truist contends.