Kimbell Royalty Partners LP (NYSE:KRP) declared a dividend on Friday, October 26th, Fidelity reports. Shareholders of record on Monday, November 5th will be given a dividend of 0.45 per share by the energy company on Monday, November 12th. The ex-dividend date of this dividend is Friday, November 2nd.
Kimbell Royalty Partners has a dividend payout ratio of 441.0% meaning 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 $0.61 per share next year, which means the company may not be able to cover its $1.72 annual dividend with an expected future payout ratio of 282.0%.
NYSE:KRP opened at $18.81 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.22. The company has a market cap of $504.84 million, a price-to-earnings ratio of 69.67 and a beta of 1.95. Kimbell Royalty Partners has a fifty-two week low of $15.70 and a fifty-two week high of $24.50.
Several research firms have recently issued reports on KRP. Zacks Investment Research raised shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, October 17th. Raymond James increased their price objective on shares of Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 16th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kimbell Royalty Partners in a research report on Friday, August 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Kimbell Royalty Partners presently has a consensus rating of “Buy” and an average target price of $24.20.
In other Kimbell Royalty Partners news, Director Erik B. Daugbjerg acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was bought at an average price of $22.52 per share, with a total value of $33,780.00. Following the completion of the transaction, the director now directly owns 4,978 shares of the company’s stock, valued at $112,104.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Erik B. Daugbjerg acquired 2,500 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $22.14 per share, with a total value of $55,350.00. Following the transaction, the director now directly owns 7,978 shares of the company’s stock, valued at $176,632.92. The disclosure for this purchase can be found here. Insiders bought 5,500 shares of company stock valued at $121,160 in the last three months. Company insiders own 14.20% of the company’s stock.
Kimbell Royalty Partners Company Profile
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
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