KeyCorp Research Analysts Lower Earnings Estimates for Kimbell Royalty Partners, LP (NYSE:KRP)

Kimbell Royalty Partners, LP (NYSE:KRP) – Analysts at KeyCorp cut their FY2023 earnings estimates for shares of Kimbell Royalty Partners in a research report issued on Sunday, November 5th. KeyCorp analyst T. Rezvan now expects that the energy company will post earnings of $1.09 per share for the year, down from their prior forecast of $1.21. The consensus estimate for Kimbell Royalty Partners’ current full-year earnings is $1.27 per share. KeyCorp also issued estimates for Kimbell Royalty Partners’ Q4 2023 earnings at $0.32 EPS, Q1 2024 earnings at $0.35 EPS and FY2024 earnings at $1.33 EPS.

A number of other brokerages have also commented on KRP. Stifel Nicolaus boosted their target price on Kimbell Royalty Partners from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Bank of America assumed coverage on Kimbell Royalty Partners in a report on Monday, October 30th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Raymond James upped their target price on Kimbell Royalty Partners from $20.00 to $22.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 7th.

Kimbell Royalty Partners Price Performance

KRP stock opened at $16.08 on Wednesday. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $15.40. Kimbell Royalty Partners has a 12-month low of $13.85 and a 12-month high of $18.90. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 9.69 and a beta of 1.32.

Kimbell Royalty Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.04 annualized dividend and a dividend yield of 12.69%. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.39. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 93.98%.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds have recently made changes to their positions in KRP. T. Rowe Price Investment Management Inc. lifted its stake in shares of Kimbell Royalty Partners by 41.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,435,664 shares of the energy company’s stock valued at $40,676,000 after buying an additional 709,547 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Kimbell Royalty Partners by 23.2% in the second quarter. Epoch Investment Partners Inc. now owns 1,822,834 shares of the energy company’s stock worth $26,814,000 after acquiring an additional 343,753 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kimbell Royalty Partners by 417.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,374,119 shares of the energy company’s stock valued at $20,928,000 after purchasing an additional 1,108,366 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Kimbell Royalty Partners by 2.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,328,566 shares of the energy company’s stock valued at $20,832,000 after purchasing an additional 26,239 shares during the period. Finally, Raymond James & Associates lifted its holdings in Kimbell Royalty Partners by 4.4% during the 3rd quarter. Raymond James & Associates now owns 1,033,032 shares of the energy company’s stock worth $16,529,000 after purchasing an additional 43,935 shares in the last quarter. 36.70% of the stock is currently owned by institutional investors.

About Kimbell Royalty Partners

Kimbell Royalty Partners, LP, together with its subsidiaries, engages in acquiring and owning mineral and royalty interests in oil and natural gas properties in the United States. The company serves as the general partner of the company. Kimbell Royalty Partners, LP was incorporated in 2015 and is based in Fort Worth, Texas.