Zacks: Brokerages Expect Kimbell Royalty Partners, LP (NYSE:KRP) Will Post Earnings of $0.37 Per Share

Wall Street analysts expect Kimbell Royalty Partners, LP (NYSE:KRPGet Rating) to announce $0.37 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kimbell Royalty Partners’ earnings. Kimbell Royalty Partners reported earnings per share of $0.04 during the same quarter last year, which would suggest a positive year-over-year growth rate of 825%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Kimbell Royalty Partners will report full-year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.34. For the next financial year, analysts forecast that the business will post earnings of $1.62 per share, with EPS estimates ranging from $1.26 to $1.98. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Kimbell Royalty Partners.

Several equities research analysts recently weighed in on KRP shares. Zacks Investment Research upgraded 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 began coverage on Kimbell Royalty Partners in a research note on Wednesday, April 13th. They set an “overweight” rating and a $22.00 price objective for the company. KeyCorp lifted their price objective on Kimbell Royalty Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. TheStreet cut Kimbell Royalty Partners from a “b” rating to a “c+” rating in a research note on Friday, May 6th. Finally, Raymond James lifted their price objective on Kimbell Royalty Partners from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.20.

In other news, major shareholder Pep I. Holdings, Llc sold 3,999,919 shares of the company’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $15.04, for a total value of $60,158,781.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Blayne Rhynsburger sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $15.45, for a total value of $30,900.00. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in KRP. Fifth Third Bancorp purchased a new stake in Kimbell Royalty Partners during the fourth quarter valued at approximately $27,000. Captrust Financial Advisors purchased a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $41,000. Dorsey Wright & Associates purchased a new stake in Kimbell Royalty Partners during the fourth quarter valued at approximately $52,000. National Bank of Canada FI purchased a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $65,000. Finally, Quantbot Technologies LP purchased a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $81,000. 31.51% of the stock is owned by institutional investors.

Shares of NYSE KRP traded down $0.26 during trading hours on Friday, reaching $19.19. 206 shares of the stock traded hands, compared to its average volume of 351,253. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.72. Kimbell Royalty Partners has a 52-week low of $10.00 and a 52-week high of $20.08. The company has a market capitalization of $1.24 billion, a P/E ratio of 29.52 and a beta of 1.52. The company’s 50-day simple moving average is $17.65 and its two-hundred day simple moving average is $15.90.

The business also recently declared a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.80%. The ex-dividend date was Friday, April 29th. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.37. Kimbell Royalty Partners’s payout ratio is currently 289.23%.

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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Earnings History and Estimates for Kimbell Royalty Partners (NYSE:KRP)

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