Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders 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 yield of 9.79%. The ex-dividend date of this dividend is Monday, November 18th.
Kimbell Royalty Partners has a 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 Trading Down 0.4 %
Shares of Kimbell Royalty Partners stock traded down $0.07 on Friday, reaching $16.76. The company had a trading volume of 571,689 shares, compared to its average volume of 372,793. The firm's 50 day moving average price is $15.97 and its two-hundred day moving average price is $16.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. Kimbell Royalty Partners has a 52-week low of $14.26 and a 52-week high of $17.07. The firm has a market cap of $1.60 billion, a PE ratio of 32.86, a PEG ratio of 2.04 and a beta of 1.13.
Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last announced 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. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The company had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The firm's quarterly revenue was up 24.7% compared to the same quarter last year. Sell-side analysts predict that Kimbell Royalty Partners will post 0.68 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. KeyCorp dropped their target price on 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. Truist Financial dropped 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. One 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.50.
Read Our Latest Analysis on KRP
Insider Buying and Selling
In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 $788,076.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company's stock.
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