Kimbell Royalty Partners (NYSE:KRP) Announces Quarterly Earnings Results

Kimbell Royalty Partners (NYSE:KRP) released its quarterly earnings data on Thursday. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13), Briefing.com reports. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 4.91%. The company had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. During the same quarter in the prior year, the company earned $0.23 EPS. The business’s revenue was up 26.0% on a year-over-year basis.

Kimbell Royalty Partners Stock Performance

NYSE KRP traded down $0.22 during trading hours on Friday, hitting $15.75. 556,296 shares of the stock were exchanged, compared to its average volume of 376,720. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11. The stock has a 50-day moving average of $16.58 and a 200 day moving average of $15.97. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 0.42.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be issued a $0.42 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.67%. Kimbell Royalty Partners’s payout ratio is 326.67%.

Analyst Upgrades and Downgrades

KRP has been the subject of several research analyst reports. Bank of America restated an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Truist Financial upped their price objective on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Finally, KeyCorp upped their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling

In related news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now directly owns 249,030 shares of the company’s stock, valued at $4,113,975.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Kimbell Royalty Partners Company Profile