Kimbell Royalty Partners, LP (NYSE:KRP) Increases Dividend to $0.49 Per Share

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.49 per share by the energy company on Monday, May 20th. This represents a $1.96 annualized dividend and a yield of 11.85%. 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 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 $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 Stock Up 1.3 %

Shares of NYSE:KRP opened at $16.54 on Wednesday. The firm has a market capitalization of $1.57 billion, a PE ratio of 27.57 and a beta of 1.07. The business has a 50 day simple moving average of $15.80 and a two-hundred day simple moving average of $15.48. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.68%. The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. During the same quarter in the previous year, the firm earned $0.36 EPS. Kimbell Royalty Partners’s revenue was up 52.4% compared to the same quarter last year. On average, equities analysts predict that Kimbell Royalty Partners will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Brett G. Taylor sold 22,326 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $15.59, for a total transaction of $348,062.34. Following the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at $5,927,473.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The disclosure for this sale can be found here. Insiders sold a total of 100,672 shares of company stock worth $1,571,185 over the last 90 days. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

KRP has been the topic of several recent analyst reports. TD Securities reduced their price target on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Truist Financial decreased their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 5th. KeyCorp raised their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Raymond James lowered their target price on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.00.

About Kimbell Royalty Partners