Kimbell Royalty Partners (KRP) Set to Announce Quarterly Earnings on Wednesday

Posted by Defense World Staff on Apr 26th, 2023

Kimbell Royalty Partners (NYSE:KRP – Get Rating) will issue its quarterly earnings data before the market opens on Wednesday, May 3rd. Analysts expect the company to announce earnings of $0.25 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Kimbell Royalty Partners (NYSE:KRP – Get Rating) last posted its earnings results on Thursday, February 23rd. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.19. The firm had revenue of $68.67 million during the quarter, compared to the consensus estimate of $54.79 million. Kimbell Royalty Partners had a return on equity of 30.25% and a net margin of 47.32%. On average, analysts expect Kimbell Royalty Partners to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Kimbell Royalty Partners Stock Down 1.4 %

NYSE KRP opened at $16.07 on Wednesday. The stock has a 50 day moving average price of $15.45 and a 200-day moving average price of $16.50. Kimbell Royalty Partners has a one year low of $13.85 and a one year high of $20.08. The company has a market capitalization of $1.05 billion, a P/E ratio of 9.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.01 and a current ratio of 4.01.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Thursday, March 9th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $1.92 annualized dividend and a yield of 11.95%. Kimbell Royalty Partners’s payout ratio is presently 109.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Kimbell Royalty Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 12th. Raymond James increased their target price on Kimbell Royalty Partners from $19.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 14th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.00.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty Partners stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $15.15, for a total transaction of $30,300.00. Following the completion of the sale, the insider now owns 56,191 shares of the company’s stock, valued at $851,293.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KRP. T. Rowe Price Investment Management Inc. increased its position in shares of Kimbell Royalty Partners by 41.1% in the fourth 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. Goldman Sachs Group Inc. boosted its stake in Kimbell Royalty Partners by 61.4% during the second quarter. Goldman Sachs Group Inc. now owns 947,292 shares of the energy company’s stock worth $14,854,000 after buying an additional 360,242 shares during the last quarter. Marshall Wace LLP boosted its stake in Kimbell Royalty Partners by 302.8% during the fourth quarter. Marshall Wace LLP now owns 363,371 shares of the energy company’s stock worth $6,068,000 after buying an additional 273,159 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Kimbell Royalty Partners by 14.2% during the fourth quarter. Macquarie Group Ltd. now owns 1,179,713 shares of the energy company’s stock worth $19,701,000 after buying an additional 146,945 shares during the last quarter. Finally, State Street Corp acquired a new position in Kimbell Royalty Partners during the second quarter worth $2,062,000. 47.51% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile

(Get Rating)

Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded by Robert Ravnaas, R. Davis Ravnaas, Brett G. Taylor on October 30, 2015 and is headquartered in Fort Worth, TX.

Earnings History for Kimbell Royalty Partners (NYSE:KRP)

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