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 given a dividend of 0.49 per share by the energy company on Monday, May 20th. This represents a $1.96 annualized dividend and a dividend yield of 12.19%. The ex-dividend date is Friday, May 10th. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43.

Kimbell Royalty Partners has a 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 Price Performance

Shares of Kimbell Royalty Partners stock traded up $0.08 during trading on Friday, hitting $16.08. 258,922 shares of the stock traded hands, compared to its average volume of 336,308. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.39 and a beta of 1.07. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 52 week low of $14.02 and a 52 week high of $17.11. The firm’s fifty day moving average is $15.74 and its 200-day moving average is $15.50.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The business had revenue of $87.50 million during the quarter, compared to the consensus estimate of $79.42 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. Research analysts expect that Kimbell Royalty Partners will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KRP has been the topic of several analyst reports. TD Securities decreased their price objective on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Raymond James decreased their target price on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. KeyCorp raised their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Truist Financial decreased their price objective on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 5th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.00.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of Kimbell Royalty Partners 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 transaction, the insider now owns 55,164 shares of the company’s stock, valued at $860,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Brett G. Taylor sold 22,327 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $15.68, for a total value of $350,087.36. Following the transaction, the director now directly owns 402,536 shares of the company’s stock, valued at approximately $6,311,764.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the transaction, the insider now owns 55,164 shares of the company’s stock, valued at $860,558.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,672 shares of company stock valued at $1,571,185. 5.60% of the stock is owned by corporate insiders.

About Kimbell Royalty Partners