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

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 9.79%. The ex-dividend date 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. Equities 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

Kimbell Royalty Partners stock traded down $0.07 during mid-day trading on Friday, reaching $16.76. The company’s stock had a trading volume of 571,662 shares, compared to its average volume of 367,843. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.99 and a beta of 1.13. The business has a 50 day moving average price of $15.95 and a 200-day moving average price of $16.20. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The firm had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. During the same period in the previous year, the business earned $0.19 earnings per share. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% compared to the same quarter last year. Sell-side analysts predict that Kimbell Royalty Partners will post 0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KRP. Truist Financial cut their target price 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 Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Buying and Selling

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

About Kimbell Royalty Partners