Kimbell Royalty Partners, LP (KRP) To Go Ex-Dividend on May 10th

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.49 per share by the energy company on Monday, May 20th. This represents a $1.96 annualized dividend and a yield of 11.85%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43.

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. Equities research analysts expect Kimbell Royalty Partners to earn $1.10 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 141.8%.

Kimbell Royalty Partners Stock Up 1.3 %

KRP stock opened at $16.54 on Wednesday. The stock has a fifty day moving average of $15.80 and a 200-day moving average of $15.48. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 7.95 and a current ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 5.68% and a net margin of 12.93%. The business had revenue of $87.50 million for the quarter, compared to the consensus estimate of $79.42 million. During the same quarter in the prior year, the business earned $0.36 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, equities research analysts predict that Kimbell Royalty Partners will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on KRP. KeyCorp lifted their price objective on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. TD Securities decreased their price objective on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Truist Financial cut their target price on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Raymond James decreased their price target on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $21.00.

Insiders Place Their Bets

In other news, Director Brett G. Taylor sold 27,163 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the sale, the director now owns 299,030 shares in the company, valued at approximately $4,637,955.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the transaction, the insider now owns 55,164 shares of the company’s stock, valued at $860,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brett G. Taylor sold 27,163 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now directly owns 299,030 shares of the company’s stock, valued at approximately $4,637,955.30. The disclosure for this sale can be found here. Insiders have sold 100,672 shares of company stock worth $1,571,185 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Partners Company Profile