Kimbell Royalty Partners, LP (NYSE:KRP) Declares Quarterly Dividend of $0.42

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Investors of record on Monday, August 12th will be paid a dividend of 0.42 per share by the energy company on Monday, August 19th. This represents a $1.68 annualized dividend and a yield of 10.53%. The ex-dividend date of this dividend is Monday, August 12th.

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. Equities analysts expect Kimbell Royalty Partners to earn $1.24 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 125.8%.

Kimbell Royalty Partners Stock Down 0.2 %

Shares of NYSE KRP opened at $15.96 on Friday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.52 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. The stock’s fifty day simple moving average is $16.49 and its two-hundred day simple moving average is $16.02. Kimbell Royalty Partners has a 12-month low of $14.26 and a 12-month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 4.91%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. As a group, analysts expect that Kimbell Royalty Partners will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KRP. Bank of America reaffirmed an “underperform” rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. Truist Financial raised their price objective on Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, KeyCorp raised their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

About Kimbell Royalty Partners