Kimbell Royalty Partners, LP (NYSE:KRP) Declares Dividend Increase – $0.49 Per Share

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.49 per share by the energy company on Monday, May 20th. This represents a $1.96 dividend on an annualized basis and a yield of 12.19%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43.

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. Research analysts expect Kimbell Royalty Partners to earn $1.10 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 141.8%.

Kimbell Royalty Partners Price Performance

KRP traded up $0.08 on Friday, hitting $16.08. 258,922 shares of the company’s stock were exchanged, compared to its average volume of 336,308. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $15.74 and a 200-day moving average price of $15.50. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.48 and a beta of 1.07.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The business had revenue of $87.50 million for the quarter, compared to analyst estimates of $79.42 million. During the same period last year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, equities analysts anticipate that Kimbell Royalty Partners will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James reduced their price target on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial reduced their price target on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 5th. TD Securities reduced their price target on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, KeyCorp boosted their price objective on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Buy” and a consensus target price of $21.00.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 5,480 shares of Kimbell Royalty Partners stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $15.55, for a total value of $85,214.00. Following the completion of the transaction, the director now directly owns 343,082 shares of the company’s stock, valued at approximately $5,334,925.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 5,480 shares of Kimbell Royalty Partners stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $15.55, for a total value of $85,214.00. Following the completion of the transaction, the director now directly owns 343,082 shares of the company’s stock, valued at approximately $5,334,925.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brett G. Taylor sold 22,327 shares of Kimbell Royalty Partners stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $15.68, for a total value of $350,087.36. Following the completion of the transaction, the director now directly owns 402,536 shares of the company’s stock, valued at $6,311,764.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,672 shares of company stock worth $1,571,185. Company insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners