Kimbell Royalty (NYSE:KRP) Raises Dividend to $0.37 Per Share

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Thursday, February 26th. Stockholders of record on Wednesday, March 18th will be paid a dividend of 0.37 per share by the energy company on Wednesday, March 25th. This represents a c) annualized dividend and a dividend yield of 10.4%. The ex-dividend date is Wednesday, March 18th. This is a 5.7% increase from Kimbell Royalty’s previous quarterly dividend of $0.35.

Kimbell Royalty has increased its dividend by an average of 0.0%annually over the last three years. Kimbell Royalty has a dividend payout ratio of 98.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Kimbell Royalty to earn $1.01 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 138.6%.

Kimbell Royalty Trading Down 2.1%

Shares of KRP traded down $0.30 during trading hours on Friday, reaching $14.20. The stock had a trading volume of 329,183 shares, compared to its average volume of 621,030. The company has a market cap of $1.53 billion, a P/E ratio of -202.50, a P/E/G ratio of 3.58 and a beta of 0.34. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $15.35. The company has a quick ratio of 5.39, a current ratio of 5.39 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $12.87 and a 200 day moving average of $13.14.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. Kimbell Royalty had a return on equity of 12.51% and a net margin of 10.66%.The firm had revenue of $82.45 million during the quarter, compared to analysts’ expectations of $76.78 million. During the same period in the previous year, the firm earned ($0.48) earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. On average, sell-side analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KRP has been the subject of a number of research reports. Wall Street Zen raised Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Mizuho increased their price objective on shares of Kimbell Royalty from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Zacks Research lowered shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, Citigroup dropped their price target on Kimbell Royalty from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.80.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.