Kimbell Royalty Partners initiated with a Buy at BofA

BofA analyst John Abbott initiated coverage of Kimbell Royalty Partners with a Buy rating and $19 price target. The firm estimates a potential total one-year return of about 30% for the small cap partnership whose strategy is anchored on acquiring oil and gas minerals across the Permian, Mid-con, Haynesville, Eagle Ford, Bakken, Appalachia and DJ basins, the analyst tells investors.