Kimbell Royalty (KRP) to Issue Quarterly Dividend of $0.41 on May 27th

Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Thursday, May 7th. Investors of record on Tuesday, May 19th will be given a dividend of 0.41 per share by the energy company on Wednesday, May 27th. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date is Tuesday, May 19th. This is a 10.8% increase from Kimbell Royalty’s previous quarterly dividend of $0.37.

Kimbell Royalty has raised its dividend payment by an average of 0.1%annually over the last three years. Kimbell Royalty has a payout ratio of 104.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Kimbell Royalty to earn $0.79 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 187.3%.

Kimbell Royalty Stock Performance

NYSE:KRP opened at $14.56 on Friday. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.49 and a beta of 0.29. The firm’s fifty day simple moving average is $14.57 and its 200 day simple moving average is $13.45. Kimbell Royalty has a twelve month low of $11.31 and a twelve month high of $15.65.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). The business had revenue of $65.54 million for the quarter, compared to analyst estimates of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.43%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, equities research analysts expect that Kimbell Royalty will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KRP shares. Mizuho reduced their target price on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Zacks Research lowered shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Citigroup boosted their price objective on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.33.

Kimbell Royalty Company Profile

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.