Kimbell Royalty Partners, LP (NYSE:KRP) to Issue Quarterly Dividend of $0.41

Posted by Jared Coughlin on Nov 17th, 2024

Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 10.28%. The ex-dividend date of this dividend 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 $0.93 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 167.7%.

Kimbell Royalty Partners Stock Down 2.3 %

NYSE:KRP opened at $15.96 on Friday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.96 and a beta of 1.13. Kimbell Royalty Partners has a 1-year low of $14.26 and a 1-year high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.68 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average price is $16.05 and its 200 day moving average price is $16.22.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. Kimbell Royalty Partners’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. On average, sell-side analysts forecast that Kimbell Royalty Partners will post 0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial dropped their target price on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. KeyCorp dropped their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.50.

Get Our Latest Stock Analysis on KRP

Insider Activity

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by insiders.