Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 11.56%. The ex-dividend date of this dividend is Tuesday, March 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 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 Stock Down 4.0 %
Kimbell Royalty Partners stock traded down $0.58 during trading on Tuesday, reaching $13.85. The stock had a trading volume of 2,867,868 shares, compared to its average volume of 1,045,667. Kimbell Royalty Partners has a 52-week low of $13.63 and a 52-week high of $17.07. The business has a 50 day moving average price of $15.72 and a 200 day moving average price of $15.86. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.32 billion, a PE ratio of 27.15, a P/E/G ratio of 4.25 and a beta of 1.08.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on KRP shares. Truist Financial downgraded shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $22.00 to $16.00 in a research report on Tuesday. Bank of America reduced their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research report on Tuesday. Finally, Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday.
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