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

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.41 per share by the energy company on Monday, November 25th. This represents a $1.64 annualized dividend and a dividend 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. Research 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 Performance

Shares of Kimbell Royalty Partners stock traded down $0.07 during mid-day trading on Friday, hitting $16.76. 571,662 shares of the stock were exchanged, compared to its average volume of 367,843. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. The company has a market capitalization of $1.60 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.99 and a beta of 1.13. The company has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $16.20. 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 released its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Sell-side analysts anticipate that Kimbell Royalty Partners will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on KRP. Truist Financial lowered their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report 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 for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares in the company, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners