Kimbell Royalty (NYSE:KRP) Shares Set to Pay Quarterly Dividend of $0.07

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Thursday, November 5th. Investors of record on Monday, November 16th will be paid a dividend of $0.07 per share by the energy company on Tuesday, December 15th. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, November 16th. This is a 85.1% decrease from Kimbell Royalty’s previous quarterly dividend of $0.47.

Kimbell Royalty has raised its dividend by an average of 0.1% per year over the last three years. Kimbell Royalty has a dividend payout ratio of 132.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimbell Royalty to earn $1.11 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 169.4%.

Kimbell Royalty Stock Down 2.8%

Kimbell Royalty stock traded down $0.44 during trading hours on Thursday, hitting $15.04. The company had a trading volume of 1,435,202 shares, compared to its average volume of 807,511. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $17.12. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30. The firm has a market capitalization of $1.73 billion, a P/E ratio of 17.90 and a beta of 0.38. The firm’s fifty day moving average is $15.36 and its 200-day moving average is $14.78.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, November 5th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $86.33 million for the quarter, compared to analyst estimates of $104.41 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. On average, research analysts forecast that Kimbell Royalty will post 1.10 earnings per share for the current year.

Analysts Set New Price Targets

KRP has been the subject of several recent research reports. Wall Street Zen raised Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Kimbell Royalty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Zacks Research raised shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Finally, KeyCorp lifted their price objective on shares of Kimbell Royalty from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.25.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP (NYSE: KRP) is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.