Kimbell Royalty Partners, LP (NYSE:KRP) to Post Q3 2022 Earnings of $0.39 Per Share, KeyCorp Forecasts

Kimbell Royalty Partners, LP (NYSE:KRPGet Rating) – Equities research analysts at KeyCorp issued their Q3 2022 earnings per share (EPS) estimates for Kimbell Royalty Partners in a report released on Monday, September 19th. KeyCorp analyst T. Rezvan forecasts that the energy company will post earnings of $0.39 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Kimbell Royalty Partners’ current full-year earnings is $1.20 per share. KeyCorp also issued estimates for Kimbell Royalty Partners’ Q4 2022 earnings at $0.45 EPS, FY2022 earnings at $1.54 EPS, Q1 2023 earnings at $0.48 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.35 EPS, Q4 2023 earnings at $0.40 EPS and FY2023 earnings at $1.58 EPS.

Kimbell Royalty Partners (NYSE:KRPGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. Kimbell Royalty Partners had a return on equity of 25.19% and a net margin of 41.55%. The firm had revenue of $72.71 million for the quarter, compared to the consensus estimate of $60.36 million.

Several other equities research analysts have also recently issued reports on KRP. Citigroup assumed coverage on Kimbell Royalty Partners in a research note on Wednesday, August 24th. They issued a “buy” rating and a $24.00 price target for the company. TheStreet upgraded Kimbell Royalty Partners from a “c+” rating to a “b” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $21.40.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock opened at $17.59 on Thursday. Kimbell Royalty Partners has a 12 month low of $12.68 and a 12 month high of $20.08. The stock’s 50 day moving average is $17.43 and its 200-day moving average is $17.15. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.16 and a beta of 1.52.

Kimbell Royalty Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 12th. This represents a $2.20 annualized dividend and a yield of 12.51%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.47. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 189.66%.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $17.73, for a total value of $44,325.00. Following the completion of the sale, the insider now owns 46,616 shares of the company’s stock, valued at $826,501.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 29,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $17.52, for a total value of $509,832.00. Following the completion of the sale, the director now owns 612,593 shares of the company’s stock, valued at $10,732,629.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Blayne Rhynsburger sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $17.73, for a total value of $44,325.00. Following the completion of the sale, the insider now directly owns 46,616 shares of the company’s stock, valued at approximately $826,501.68. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Encap Energy Capital Fund Viii L.P. purchased a new position in shares of Kimbell Royalty Partners in the first quarter valued at $87,121,000. Macquarie Group Ltd. lifted its stake in Kimbell Royalty Partners by 2.0% during the second quarter. Macquarie Group Ltd. now owns 1,328,566 shares of the energy company’s stock worth $20,832,000 after purchasing an additional 26,239 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 purchasing an additional 360,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Kimbell Royalty Partners during the first quarter worth about $14,718,000. Finally, Pin Oak Investment Advisors Inc. lifted its stake in Kimbell Royalty Partners by 0.8% during the second quarter. Pin Oak Investment Advisors Inc. now owns 508,153 shares of the energy company’s stock worth $7,968,000 after purchasing an additional 4,130 shares during the last quarter. Institutional investors own 49.15% of the company’s stock.

About Kimbell Royalty Partners

(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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