Equities analysts expect Kimbell Royalty Partners LP (NYSE:KRP) to announce $23.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kimbell Royalty Partners’ earnings, with the highest sales estimate coming in at $23.52 million and the lowest estimate coming in at $22.67 million. Kimbell Royalty Partners posted sales of $9.69 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 139.5%. The firm is expected to issue its next quarterly earnings report on Thursday, March 14th.
On average, analysts expect that Kimbell Royalty Partners will report full-year sales of $64.38 million for the current fiscal year, with estimates ranging from $62.67 million to $67.02 million. For the next year, analysts anticipate that the firm will report sales of $102.65 million, with estimates ranging from $86.97 million to $112.11 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Kimbell Royalty Partners.
Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, November 8th. The energy company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ 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 negative net margin of 108.86% and a positive return on equity of 0.23%.
KRP has been the topic of a number of recent research reports. Stifel Nicolaus downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Friday, November 9th. Zacks Investment Research downgraded shares of Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, Raymond James upped 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.
In other Kimbell Royalty Partners news, Director Erik B. Daugbjerg bought 7,500 shares of Kimbell Royalty Partners stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average cost of $16.65 per share, with a total value of $124,875.00. Following the transaction, the director now directly owns 13,478 shares of the company’s stock, valued at $224,408.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Adams III bought 10,000 shares of Kimbell Royalty Partners stock in a transaction dated Monday, November 26th. The stock was acquired at an average cost of $16.88 per share, for a total transaction of $168,800.00. Following the completion of the transaction, the director now directly owns 22,654 shares in the company, valued at $382,399.52. The disclosure for this purchase can be found here. Insiders bought a total of 22,215 shares of company stock worth $394,853 over the last ninety days. Insiders own 14.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Luminus Management LLC purchased a new stake in Kimbell Royalty Partners during the 3rd quarter valued at about $359,000. Putnam Investments LLC grew its position in Kimbell Royalty Partners by 92.1% during the 3rd quarter. Putnam Investments LLC now owns 261,641 shares of the energy company’s stock valued at $5,133,000 after purchasing an additional 125,465 shares during the last quarter. Soros Fund Management LLC purchased a new stake in Kimbell Royalty Partners during the 3rd quarter valued at about $4,905,000. Laurion Capital Management LP purchased a new stake in Kimbell Royalty Partners during the 3rd quarter valued at about $1,962,000. Finally, Renaissance Technologies LLC grew its position in Kimbell Royalty Partners by 71.1% during the 3rd quarter. Renaissance Technologies LLC now owns 86,755 shares of the energy company’s stock valued at $1,702,000 after purchasing an additional 36,040 shares during the last quarter. 18.39% of the stock is currently owned by institutional investors.
Shares of Kimbell Royalty Partners stock opened at $18.30 on Monday. The company has a current ratio of 5.50, a quick ratio of 5.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $554.29 million, a price-to-earnings ratio of 140.77 and a beta of 1.10. Kimbell Royalty Partners has a 12-month low of $15.70 and a 12-month high of $24.50.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 12th. Stockholders of record on Monday, November 5th were given a $0.45 dividend. The ex-dividend date was Friday, November 2nd. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.84%. Kimbell Royalty Partners’s dividend payout ratio is currently 1,384.62%.
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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