Kimbell Royalty Partners, LP (NYSE:KRP) Declares Dividend Increase – $0.49 Per Share

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.49 per share by the energy company on Monday, May 20th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43.

Kimbell Royalty Partners has a 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 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 Trading Up 0.5 %

Shares of KRP stock opened at $16.08 on Friday. The business has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $15.49. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.52 billion, a P/E ratio of 26.80 and a beta of 1.07.

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

Insider Transactions at Kimbell Royalty Partners

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on KRP. KeyCorp increased their target price on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Truist Financial decreased their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Raymond James dropped their target price on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Finally, TD Securities decreased their price target 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kimbell Royalty Partners presently has an average rating of “Buy” and a consensus target price of $21.00.

Kimbell Royalty Partners Company Profile