Kimbell Royalty (NYSE:KRP) Declares Quarterly Dividend of $0.47

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Friday, August 7th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.47 per share by the energy company on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Monday, August 17th. This is a 14.6% increase from Kimbell Royalty’s previous quarterly dividend of $0.41.

Kimbell Royalty has increased its dividend payment by an average of 0.1%per year over the last three years. Kimbell Royalty has a dividend payout ratio of 115.5% meaning 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 to earn $0.83 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 197.6%.

Kimbell Royalty Stock Up 3.1%

NYSE KRP opened at $14.95 on Friday. Kimbell Royalty has a 12 month low of $11.31 and a 12 month high of $15.80. The company has a market capitalization of $1.61 billion, a P/E ratio of 32.51 and a beta of 0.30. The company’s 50 day simple moving average is $14.88 and its 200 day simple moving average is $14.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.17. The firm had revenue of $112.48 million for the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. Equities research analysts expect that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KRP has been the topic of a number of recent analyst reports. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Zacks Research cut Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada initiated coverage on Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kimbell Royalty presently has an average rating of “Hold” and an average target price of $18.00.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.