Kimbell Royalty Partners (NYSE:KRP) Issues Earnings Results, Misses Estimates By $0.15 EPS

Kimbell Royalty Partners (NYSE:KRP) announced its quarterly earnings results on Thursday. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15), Briefing.com reports. Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The firm 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 company posted $0.36 EPS. The firm’s revenue was up 52.4% on a year-over-year basis.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock traded up $0.08 during trading on Friday, hitting $16.08. The company’s stock had a trading volume of 258,922 shares, compared to its average volume of 336,308. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.52 billion, a PE ratio of 17.48 and a beta of 1.07. The business has a fifty day moving average of $15.76 and a 200-day moving average of $15.49. Kimbell Royalty Partners has a 52 week low of $14.02 and a 52 week high of $17.11.

Kimbell Royalty Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, May 10th. This represents a $1.96 annualized dividend and a dividend yield of 12.19%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 186.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Truist Financial reduced 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. TD Securities lowered their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Raymond James dropped their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kimbell Royalty Partners 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 the company’s stock in a transaction 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 in the company, valued at approximately $860,558.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brett G. Taylor sold 16,889 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.71, for a total transaction of $265,326.19. Following the sale, the director now owns 326,193 shares of the company’s stock, valued at approximately $5,124,492.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,672 shares of company stock worth $1,571,185. 5.60% of the stock is owned by company insiders.

About Kimbell Royalty Partners