Kimbell Royalty (NYSE:KRP) to Issue $0.35 Quarterly Dividend

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, November 17th will be paid a dividend of 0.35 per share by the energy company on Monday, November 24th. This represents a c) dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Monday, November 17th.

Kimbell Royalty has increased its dividend payment by an average of 0.0%annually over the last three years. Kimbell Royalty has a dividend payout ratio of 107.0% 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 to earn $1.01 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 150.5%.

Kimbell Royalty Stock Up 0.3%

KRP stock opened at $13.16 on Friday. The firm has a market cap of $1.42 billion, a PE ratio of -329.03 and a beta of 0.45. Kimbell Royalty has a one year low of $10.98 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.45 and a current ratio of 5.45. The firm’s 50 day moving average price is $13.42 and its 200-day moving average price is $13.63.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Thursday, November 6th. The energy company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $80.62 million for the quarter, compared to the consensus estimate of $82.68 million. Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, equities research analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp cut their target price on Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Zacks Research raised Kimbell Royalty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Kimbell Royalty in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.20.

About Kimbell Royalty