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

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be given 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 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. Equities 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 Down 0.4 %

KRP traded down $0.07 during trading on Friday, hitting $16.76. The company had a trading volume of 571,689 shares, compared to its average volume of 372,793. Kimbell Royalty Partners has a 1-year low of $14.26 and a 1-year high of $17.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.68 and a quick ratio of 5.68. The company has a market cap of $1.60 billion, a PE ratio of 32.86, a P/E/G ratio of 2.04 and a beta of 1.13. The business has a 50-day moving average of $15.97 and a 200-day moving average of $16.21.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. The business had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company's revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. As a group, analysts forecast that Kimbell Royalty Partners will post 0.68 earnings per share for the current year.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the business's stock in a transaction 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 owns 50,164 shares in the company, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on KRP shares. KeyCorp reduced their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating on the stock in a 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 on the stock 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's stock. According to data from MarketBeat.com, Kimbell Royalty Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

About Kimbell Royalty Partners