Kimbell Royalty Partners (NYSE:KRP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kimbell Royalty Partners (NYSE:KRP) posted its earnings results on Thursday. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01, Briefing.com reports. 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 the consensus estimate of $80.03 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue was up 24.7% on a year-over-year basis.

Kimbell Royalty Partners Stock Performance

Shares of Kimbell Royalty Partners stock traded down $0.07 on Friday, reaching $16.76. 571,662 shares of the stock were exchanged, compared to its average volume of 368,235. The firm has a market capitalization of $1.60 billion, a PE ratio of 35.00, a PEG ratio of 1.99 and a beta of 1.13. Kimbell Royalty Partners has a 1-year low of $14.26 and a 1-year high of $17.07. The business has a fifty day moving average price of $15.95 and a two-hundred 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 Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a dividend of $0.41 per share. 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’s dividend payout ratio is presently 350.00%.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the 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 completion of the transaction, the insider now directly owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KRP. KeyCorp cut their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial reduced their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.50.

About Kimbell Royalty Partners