Equities Analysts Set Expectations for Kimbell Royalty Partners, LP’s Q3 2023 Earnings (NYSE:KRP)

Posted by Defense World Staff on Aug 12th, 2023

Kimbell Royalty Partners, LP (NYSE:KRP – Free Report) – Equities research analysts at KeyCorp lifted their Q3 2023 earnings per share (EPS) estimates for Kimbell Royalty Partners in a report released on Tuesday, August 8th. KeyCorp analyst T. Rezvan now forecasts that the energy company will earn $0.22 per share for the quarter, up from their prior forecast of $0.16. The consensus estimate for Kimbell Royalty Partners’ current full-year earnings is $1.18 per share. KeyCorp also issued estimates for Kimbell Royalty Partners’ Q4 2023 earnings at $0.28 EPS, FY2023 earnings at $1.06 EPS, Q1 2024 earnings at $0.35 EPS, Q2 2024 earnings at $0.31 EPS, Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.38 EPS and FY2024 earnings at $1.36 EPS.

A number of other research analysts have also recently commented on the company. Raymond James increased their target price on Kimbell Royalty Partners from $20.00 to $22.00 and gave the company a “strong-buy” rating in a research note on Monday, August 7th. Citigroup reaffirmed a “buy” rating and set a $20.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 30th.

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Kimbell Royalty Partners Stock Down 1.8 %

KRP opened at $14.62 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of 8.81 and a beta of 1.32. The company has a quick ratio of 6.97, a current ratio of 6.97 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 52 week low of $13.85 and a 52 week high of $19.80. The business’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $15.35.

Institutional Trading of Kimbell Royalty Partners

Several institutional investors and hedge funds have recently bought and sold shares of KRP. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 worth $20,928,000 after buying an additional 1,108,366 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Kimbell Royalty Partners by 164.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,327,424 shares of the energy company’s stock valued at $22,168,000 after purchasing an additional 825,327 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Kimbell Royalty Partners by 41.1% during 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 purchasing an additional 709,547 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Kimbell Royalty Partners by 331.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 647,169 shares of the energy company’s stock valued at $10,808,000 after purchasing an additional 497,169 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 valued at $14,854,000 after purchasing an additional 360,242 shares during the last quarter. 40.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mitch S. Wynne sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $14.88, for a total value of $297,600.00. Following the sale, the director now directly owns 208,881 shares of the company’s stock, valued at $3,108,149.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mitch S. Wynne sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $14.88, for a total value of $297,600.00. Following the sale, the director now directly owns 208,881 shares of the company’s stock, valued at $3,108,149.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Blayne Rhynsburger sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $15.06, for a total value of $45,180.00. Following the completion of the sale, the insider now directly owns 53,191 shares in the company, valued at $801,056.46. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 14th will be paid a dividend of $0.39 per share. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date is Friday, August 11th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 84.34%.

Kimbell Royalty Partners Company Profile

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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.