Equities research analysts expect Kimbell Royalty Partners LP (NYSE:KRP) to post sales of $24.03 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Kimbell Royalty Partners’ earnings. The lowest sales estimate is $23.76 million and the highest is $24.26 million. Kimbell Royalty Partners reported sales of $9.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 148%. The business is scheduled to report its next earnings report on Thursday, March 14th.
On average, analysts expect that Kimbell Royalty Partners will report full-year sales of $68.34 million for the current year, with estimates ranging from $67.37 million to $69.02 million. For the next financial year, analysts forecast that the company will post sales of $99.71 million, with estimates ranging from $91.11 million to $108.88 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Kimbell Royalty Partners.
Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, November 8th. The energy company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.29). The company had revenue of $18.41 million for the quarter, compared to analysts’ expectations of $22.48 million. Kimbell Royalty Partners had a positive return on equity of 1.93% and a negative net margin of 126.81%.
Several equities research analysts have commented on KRP shares. Zacks Investment Research lowered shares of Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Stifel Nicolaus restated a “buy” rating and set a $24.00 target price (down from $25.00) on shares of Kimbell Royalty Partners in a research report on Friday, August 10th. Finally, Raymond James boosted their target price on shares of Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 16th.
Shares of NYSE KRP opened at $17.90 on Friday. The firm has a market cap of $493.84 million, a price-to-earnings ratio of 137.69 and a beta of 1.10. Kimbell Royalty Partners has a one year low of $15.70 and a one year high of $24.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.21 and a current ratio of 2.21.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 10.06%. The ex-dividend date is Friday, November 2nd. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s payout ratio is 1,384.62%.
In other news, Director Erik B. Daugbjerg purchased 2,500 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average price of $22.14 per share, with a total value of $55,350.00. Following the purchase, the director now directly owns 7,978 shares of the company’s stock, valued at approximately $176,632.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erik B. Daugbjerg purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were purchased at an average cost of $22.52 per share, with a total value of $33,780.00. Following the purchase, the director now directly owns 4,978 shares in the company, valued at $112,104.56. The disclosure for this purchase can be found here. Insiders have bought a total of 5,500 shares of company stock valued at $121,160 in the last ninety days. Corporate insiders own 14.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Trustcore Financial Services LLC raised its stake in shares of Kimbell Royalty Partners by 462.5% during the 3rd quarter. Trustcore Financial Services LLC now owns 11,250 shares of the energy company’s stock worth $221,000 after buying an additional 9,250 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth $381,000. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Kimbell Royalty Partners during the 3rd quarter worth $883,000. BlackRock Inc. acquired a new position in shares of Kimbell Royalty Partners during the 3rd quarter worth $981,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth $1,117,000. 17.34% of the stock is owned by institutional investors and hedge funds.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
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