Kimbell Royalty Partners, LP (NYSE:KRP) Declares $0.40 Quarterly Dividend

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.40 per share by the energy company on Tuesday, March 25th. This represents a $1.60 dividend on an annualized basis and a yield of 11.42%. The ex-dividend date of this dividend is Tuesday, March 18th.

Kimbell Royalty Partners has a payout ratio of 109.9% meaning 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 $1.01 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 154.5%.

Kimbell Royalty Partners Trading Up 2.8 %

NYSE KRP opened at $14.02 on Friday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners has a 52 week low of $13.24 and a 52 week high of $17.07. The business has a 50 day moving average price of $15.30 and a 200-day moving average price of $15.73. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Bank of America cut their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 4th. Finally, Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd.

Kimbell Royalty Partners Company Profile