Kimbell Royalty (NYSE:KRP) Declares Quarterly Dividend of $0.37

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Thursday, February 26th. Shareholders of record on Wednesday, March 18th will be paid a dividend of 0.37 per share by the energy company on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a yield of 10.4%. The ex-dividend date is Wednesday, March 18th. This is a 5.7% increase from Kimbell Royalty’s previous quarterly dividend of $0.35.

Kimbell Royalty has increased its dividend by an average of 0.0%annually over the last three years. Kimbell Royalty has a payout ratio of 98.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Kimbell Royalty to earn $1.01 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 138.6%.

Kimbell Royalty Price Performance

Shares of KRP stock traded down $0.29 during midday trading on Friday, reaching $14.22. 297,600 shares of the company were exchanged, compared to its average volume of 619,909. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.39 and a current ratio of 5.39. The company has a market cap of $1.53 billion, a P/E ratio of -203.30, a PEG ratio of 3.58 and a beta of 0.34. The company’s 50 day moving average price is $12.87 and its two-hundred day moving average price is $13.14. Kimbell Royalty has a 12 month low of $10.98 and a 12 month high of $15.35.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. The firm had revenue of $82.45 million for the quarter, compared to analysts’ expectations of $76.78 million. Kimbell Royalty had a net margin of 10.66% and a return on equity of 12.51%. Kimbell Royalty’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.48) earnings per share. On average, sell-side analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Kimbell Royalty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in shares of Kimbell Royalty by 151.0% during the 2nd quarter. SG Americas Securities LLC now owns 39,595 shares of the energy company’s stock worth $553,000 after purchasing an additional 23,820 shares during the period. Mirador Capital Partners LP increased its stake in Kimbell Royalty by 279.5% during the third quarter. Mirador Capital Partners LP now owns 238,266 shares of the energy company’s stock valued at $3,214,000 after acquiring an additional 175,480 shares during the period. AlphaCore Capital LLC grew its holdings in shares of Kimbell Royalty by 18.9% during the 2nd quarter. AlphaCore Capital LLC now owns 237,420 shares of the energy company’s stock worth $3,314,000 after purchasing an additional 37,750 shares in the last quarter. Beacon Pointe Advisors LLC lifted its position in Kimbell Royalty by 200.9% in the second quarter. Beacon Pointe Advisors LLC now owns 129,243 shares of the energy company’s stock worth $1,804,000 after purchasing an additional 86,291 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in Kimbell Royalty during the second quarter worth $944,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.