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

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 11.94%. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43.

Kimbell Royalty Partners has a dividend payout ratio of 109.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

Shares of NYSE:KRP opened at $16.41 on Thursday. The company’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $15.49. 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 has a 1 year low of $14.02 and a 1 year high of $17.11. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 27.35 and a beta of 1.07.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 5.68% and a net margin of 12.93%. The business had revenue of $87.50 million for the quarter, compared to analyst estimates of $79.42 million. During the same period last year, the firm posted $0.36 EPS. Kimbell Royalty Partners’s quarterly revenue was up 52.4% on a year-over-year basis. As a group, research analysts predict that Kimbell Royalty Partners will post 0.91 EPS for the current fiscal year.

Insider Activity

In related news, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now owns 299,030 shares of the company’s stock, valued at $4,637,955.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Brett G. Taylor sold 27,163 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now directly owns 299,030 shares in the company, valued at $4,637,955.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total transaction of $101,197.20. Following 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. Over the last 90 days, insiders sold 100,672 shares of company stock valued at $1,571,185. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. TD Securities decreased 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 report on Thursday, February 22nd. Truist Financial decreased their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Raymond James dropped their price target on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, KeyCorp boosted their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $21.00.

About Kimbell Royalty Partners