Kimbell Royalty Partners, LP (NYSE:KRP) to Issue $0.41 Quarterly Dividend

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.41 per share by the energy company on Monday, November 25th. This represents a $1.64 annualized dividend and a dividend yield of 10.28%. The ex-dividend date of this dividend is Monday, November 18th.

Kimbell Royalty Partners has a dividend payout ratio of 109.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimbell Royalty Partners to earn $0.93 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 167.7%.

Kimbell Royalty Partners Price Performance

NYSE:KRP opened at $15.96 on Friday. The company has a quick ratio of 5.68, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.52 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. Kimbell Royalty Partners has a 12 month low of $14.26 and a 12 month high of $17.07. The company’s 50-day moving average price is $16.05 and its two-hundred day moving average price is $16.22.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same period in the prior year, the company earned $0.19 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts anticipate that Kimbell Royalty Partners will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

KRP has been the subject of a number of research analyst reports. Truist Financial cut their price target on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp lowered their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Kimbell Royalty Partners Company Profile