Kimbell Royalty Partners (NYSE:KRP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Kimbell Royalty Partners (NYSE:KRP) posted its earnings results on Thursday. The energy company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01, Briefing.com reports. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company had revenue of $83.79 million during the quarter, compared to analyst estimates of $80.03 million. During the same period in the prior year, the business posted $0.19 earnings per share. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% on a year-over-year basis.

Kimbell Royalty Partners Trading Down 0.4 %

KRP opened at $16.76 on Friday. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.07. The stock has a market cap of $1.60 billion, a PE ratio of 32.86, a PEG ratio of 2.04 and a beta of 1.13. The business has a 50 day moving average of $15.97 and a 200-day moving average of $16.21.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 9.79%. The ex-dividend date of this dividend is Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio is currently 321.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial dropped their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp decreased their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Kimbell Royalty Partners has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Kimbell Royalty Partners Company Profile