Kimbell Royalty Partners (NYSE:KRP) Issues Earnings Results

Kimbell Royalty Partners (NYSE:KRP) announced its quarterly earnings results on Thursday. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13), Briefing.com reports. Kimbell Royalty Partners had a return on equity of 4.91% and a net margin of 10.74%. The company had revenue of $76.60 million for the quarter, compared to analyst estimates of $81.19 million. During the same quarter last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis.

Kimbell Royalty Partners Stock Down 1.4 %

NYSE:KRP traded down $0.22 on Friday, hitting $15.75. The stock had a trading volume of 556,296 shares, compared to its average volume of 376,720. The company has a market cap of $1.50 billion, a PE ratio of 26.25, a P/E/G ratio of 1.41 and a beta of 1.13. Kimbell Royalty Partners has a 52 week low of $14.02 and a 52 week high of $17.11. The business’s fifty day moving average is $16.58 and its 200 day moving average is $15.97. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 0.42.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be paid a $0.42 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.67%. Kimbell Royalty Partners’s dividend payout ratio is presently 326.67%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KRP shares. KeyCorp boosted their target price on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Bank of America reissued an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Finally, Truist Financial raised their target price on Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 50,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the sale, the director now owns 249,030 shares in the company, valued at approximately $4,113,975.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by insiders.

Kimbell Royalty Partners Company Profile