Brokerages expect Kimbell Royalty Partners LP (NYSE:KRP) to post sales of $8.43 million for the current quarter, according to Zacks. Two analysts have issued estimates for Kimbell Royalty Partners’ earnings. The lowest sales estimate is $8.3 million and the highest is $8.57 million. The company is scheduled to issue its next earnings report before the market opens on Monday, May 8th.

According to Zacks, analysts expect that Kimbell Royalty Partners will report full-year sales of $8.43 million for the current financial year, with estimates ranging from $33.15 million to $34.02 million. For the next fiscal year, analysts expect that the firm will post sales of $39.84 million per share, with estimates ranging from $38.24 million to $41.44 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Kimbell Royalty Partners.

KRP has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Kimbell Royalty Partners in a research report on Tuesday, February 28th. They issued a “buy” rating and a $21.00 price objective for the company. Raymond James Financial, Inc. initiated coverage on Kimbell Royalty Partners in a research report on Tuesday, February 28th. They issued a “strong-buy” rating and a $25.00 price objective for the company. Zacks Investment Research cut Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Royal Bank of Canada boosted their price objective on Kimbell Royalty Partners from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, April 25th. Finally, Wunderlich initiated coverage on Kimbell Royalty Partners in a research report on Monday, February 13th. They issued a “buy” rating and a $23.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.25.

Several hedge funds have recently modified their holdings of the company. FMR LLC purchased a new stake in shares of Kimbell Royalty Partners during the first quarter worth about $17,094,000. Wellington Management Group LLP purchased a new stake in shares of Kimbell Royalty Partners during the first quarter worth about $13,766,000. Morgan Stanley purchased a new stake in shares of Kimbell Royalty Partners during the first quarter worth about $4,907,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Kimbell Royalty Partners during the first quarter worth about $2,194,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Kimbell Royalty Partners during the first quarter worth about $999,000.

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Kimbell Royalty Partners (NYSE:KRP) traded up 2.54% on Friday, reaching $19.37. The company’s stock had a trading volume of 11,915 shares. The firm has a 50-day moving average of $19.11 and a 200 day moving average of $19.37. Kimbell Royalty Partners has a 12-month low of $18.06 and a 12-month high of $20.89. The company’s market capitalization is $316.35 million.

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Thursday, May 4th.

About Kimbell Royalty Partners

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.

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