Kimbell Royalty Partners, LP (KRP) to Issue Quarterly Dividend of $0.47 on May 28th

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Tuesday, May 20th will be given a dividend of 0.47 per share by the energy company on Wednesday, May 28th. This represents a $1.88 dividend on an annualized basis and a yield of 14.26%. The ex-dividend date is Tuesday, May 20th. This is a 17.5% increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.40.

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. Equities research analysts expect Kimbell Royalty Partners to earn $1.01 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 154.5%.

Kimbell Royalty Partners Stock Performance

KRP opened at $13.18 on Friday. Kimbell Royalty Partners has a twelve month low of $10.98 and a twelve month high of $17.07. The stock has a market cap of $1.41 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 4.25 and a beta of 0.44. The business’s 50 day moving average is $12.99 and its 200-day moving average is $14.84. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The company had revenue of $84.21 million during the quarter, compared to analysts’ expectations of $84.05 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Kimbell Royalty Partners will post 0.65 earnings per share for the current year.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KRP has been the topic of a number of recent analyst reports. Mizuho started coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They set a “neutral” rating and a $16.00 price target on the stock. Bank of America cut their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, KeyCorp lowered their target price on Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.40.

About Kimbell Royalty Partners