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

Kimbell Royalty Partners (NYSE:KRP) announced its quarterly earnings data 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 business had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock 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. The company has a 50 day moving average price of $15.97 and a 200-day moving average price of $16.21. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.07. The firm has a market capitalization of $1.60 billion, a PE ratio of 32.86, a P/E/G ratio of 2.04 and a beta of 1.13.

Kimbell Royalty Partners Cuts Dividend

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

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KRP shares. KeyCorp lowered their price target on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial decreased their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

About Kimbell Royalty Partners