Kimbell Royalty Partners (NYSE:KRP) Posts Earnings Results, Beats Expectations By $0.01 EPS

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

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock traded down $0.07 during trading hours on Friday, reaching $16.76. 571,662 shares of the stock were exchanged, compared to its average volume of 368,235. 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 P/E ratio of 35.00, a P/E/G ratio of 1.99 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. The firm’s 50 day moving average is $15.95 and its 200 day moving average is $16.20.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 9.79%. Kimbell Royalty Partners’s dividend payout ratio is currently 350.00%.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 50,164 shares of the company’s stock, valued at $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial lowered their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Kimbell Royalty Partners Company Profile