Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) announced a dividend on Friday, April 22nd, Fidelity reports. Investors of record on Monday, May 2nd will be given a dividend of 0.47 per share by the energy company on Monday, May 9th. The ex-dividend date of this dividend is Friday, April 29th.
Kimbell Royalty Partners has a dividend payout ratio of 124.4% 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 Partners to earn $1.05 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 141.0%.
KRP opened at $16.92 on Friday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 33.84 and a beta of 1.69. Kimbell Royalty Partners has a 12 month low of $10.00 and a 12 month high of $17.72. The firm’s fifty day simple moving average is $16.31 and its 200 day simple moving average is $15.10. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.62.
Several brokerages have commented on KRP. Raymond James boosted their price target on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 28th. TheStreet raised shares of Kimbell Royalty Partners from a “c” rating to a “b” rating in a research report on Friday, February 25th. Zacks Investment Research raised shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, April 13th. Stephens assumed coverage on shares of Kimbell Royalty Partners in a research report on Wednesday, April 13th. They set an “overweight” rating and a $22.00 price target on the stock. Finally, KeyCorp upped their target price on shares of Kimbell Royalty Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $19.60.
In related news, insider Blayne Rhynsburger sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $15.45, for a total value of $30,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitch S. Wynne sold 13,689 shares of the company’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $16.18, for a total transaction of $221,488.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,015,608 shares of company stock worth $60,411,170. 14.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $248,000. Bank of New York Mellon Corp acquired a new position in shares of Kimbell Royalty Partners during the 3rd quarter worth approximately $528,000. Stifel Financial Corp grew its position in shares of Kimbell Royalty Partners by 59.6% during the 4th quarter. Stifel Financial Corp now owns 44,925 shares of the energy company’s stock worth $612,000 after purchasing an additional 16,785 shares in the last quarter. UBS Group AG grew its position in shares of Kimbell Royalty Partners by 17.7% during the 3rd quarter. UBS Group AG now owns 43,695 shares of the energy company’s stock worth $617,000 after purchasing an additional 6,575 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Kimbell Royalty Partners by 5.6% during the 3rd quarter. Royal Bank of Canada now owns 48,490 shares of the energy company’s stock worth $686,000 after purchasing an additional 2,587 shares in the last quarter. Hedge funds and other institutional investors own 28.88% of the company’s stock.
Kimbell Royalty Partners Company Profile (Get Rating)
Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approximately 11.4 million gross acres and overriding royalty interests in approximately 4.7 million gross acres.
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