Kimbell Royalty Partners, LP (NYSE:KRP) Announces Quarterly Dividend of $0.41

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 9.79%. 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. Analysts expect Kimbell Royalty Partners to earn $0.99 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 157.6%.

Kimbell Royalty Partners Stock Down 0.4 %

NYSE:KRP traded down $0.07 on Friday, reaching $16.76. The stock had a trading volume of 571,682 shares, compared to its average volume of 368,235. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $15.95 and a 200 day moving average of $16.20. The stock has a market cap of $1.60 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.99 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.

Kimbell Royalty Partners (NYSE:KRP) last posted 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. The business had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. On average, research analysts predict that Kimbell Royalty Partners will post 0.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Kimbell Royalty Partners Company Profile