KeyCorp Analysts Cut Earnings Estimates for Kimbell Royalty Partners, LP (NYSE:KRP)

Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) – KeyCorp lowered their Q2 2023 earnings per share estimates for Kimbell Royalty Partners in a research note issued on Monday, March 6th. KeyCorp analyst T. Rezvan now expects that the energy company will earn $0.19 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Kimbell Royalty Partners’ current full-year earnings is $1.30 per share. KeyCorp also issued estimates for Kimbell Royalty Partners’ Q3 2023 earnings at $0.22 EPS, Q4 2023 earnings at $0.26 EPS, FY2023 earnings at $0.86 EPS, Q1 2024 earnings at $0.31 EPS, Q2 2024 earnings at $0.28 EPS, Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.32 EPS and FY2024 earnings at $1.18 EPS.

Separately, Raymond James lowered their price target on Kimbell Royalty Partners from $26.00 to $23.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 26th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.75.

Kimbell Royalty Partners Trading Down 2.0 %

KRP opened at $15.49 on Wednesday. Kimbell Royalty Partners has a 52 week low of $14.48 and a 52 week high of $20.08. The business has a fifty day simple moving average of $16.10 and a 200-day simple moving average of $17.04. The firm has a market cap of $1.02 billion, a P/E ratio of 8.85 and a beta of 1.35. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, March 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 12.40%. The ex-dividend date is Wednesday, March 8th. Kimbell Royalty Partners’s payout ratio is currently 112.00%.

Institutional Trading of Kimbell Royalty Partners

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. acquired a new stake in Kimbell Royalty Partners in the first quarter valued at $719,000. US Bancorp DE acquired a new stake in Kimbell Royalty Partners in the first quarter valued at $114,000. Vanguard Group Inc. raised its stake in Kimbell Royalty Partners by 35.8% in the first quarter. Vanguard Group Inc. now owns 207,439 shares of the energy company’s stock valued at $3,373,000 after buying an additional 54,641 shares in the last quarter. First Trust Advisors LP raised its stake in Kimbell Royalty Partners by 2.7% in the first quarter. First Trust Advisors LP now owns 264,568 shares of the energy company’s stock valued at $4,302,000 after buying an additional 6,875 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Kimbell Royalty Partners by 55.8% in the first quarter. Renaissance Technologies LLC now owns 333,300 shares of the energy company’s stock valued at $5,419,000 after buying an additional 119,359 shares in the last quarter. 47.51% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners

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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.