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

Posted by Micah Haroldson on May 4th, 2024

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) posted its quarterly earnings data on Thursday. The energy company reported $0.04 earnings per share 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 5.68% and a net margin of 12.93%. The firm had revenue of $87.50 million for the quarter, compared to the consensus estimate of $79.42 million. During the same period in the prior year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year.

Kimbell Royalty Partners Trading Up 0.5 %

NYSE KRP traded up $0.08 on Friday, reaching $16.08. The company had a trading volume of 258,923 shares, compared to its average volume of 257,019. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 26.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. The business has a 50 day moving average of $15.76 and a two-hundred day moving average of $15.49.

Kimbell Royalty Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date is Friday, May 10th. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s payout ratio is 286.67%.

Analyst Ratings Changes

KRP has been the topic of several research analyst reports. Truist Financial reduced their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. KeyCorp lifted their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. TD Securities dropped their price objective on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Raymond James decreased their target price on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.00.

Check Out Our Latest Analysis on KRP

Insiders Place Their Bets

In other news, Director Brett G. Taylor sold 27,163 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total value of $421,298.13. Following the completion of the sale, the director now owns 299,030 shares of the company’s stock, valued at $4,637,955.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Brett G. Taylor sold 5,480 shares of Kimbell Royalty Partners stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $15.55, for a total transaction of $85,214.00. Following the completion of the transaction, the director now owns 343,082 shares of the company’s stock, valued at $5,334,925.10. 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 27,163 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the transaction, the director now owns 299,030 shares in the company, valued at approximately $4,637,955.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,672 shares of company stock valued at $1,571,185. 5.60% of the stock is currently owned by company insiders.