Equities research analysts forecast that Kimbell Royalty Partners LP (NYSE:KRP) will report sales of $9.29 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kimbell Royalty Partners’ earnings, with estimates ranging from $9.10 million to $9.49 million. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, March 8th.
On average, analysts expect that Kimbell Royalty Partners will report full year sales of $9.29 million for the current fiscal year, with estimates ranging from $29.76 million to $30.76 million. For the next fiscal year, analysts forecast that the firm will report sales of $42.31 million per share, with estimates ranging from $39.58 million to $44.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Kimbell Royalty Partners.
A number of research analysts recently commented on KRP shares. Zacks Investment Research downgraded shares of Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $19.00 target price on shares of Kimbell Royalty Partners in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $19.00 target price on shares of Kimbell Royalty Partners in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.00.
Institutional investors have recently modified their holdings of the business. Lee Financial Co purchased a new position in Kimbell Royalty Partners during the 3rd quarter worth $8,408,000. Raymond James Financial Services Advisors Inc. purchased a new position in Kimbell Royalty Partners during the 2nd quarter worth $312,000. FMR LLC grew its position in Kimbell Royalty Partners by 7.2% during the 2nd quarter. FMR LLC now owns 940,182 shares of the energy company’s stock worth $15,823,000 after purchasing an additional 63,550 shares during the last quarter. Lubar & Co. Inc purchased a new position in Kimbell Royalty Partners during the 4th quarter worth $796,000. Finally, Royal Bank of Canada purchased a new position in Kimbell Royalty Partners during the 2nd quarter worth $164,000. 21.82% of the stock is currently owned by institutional investors.
Kimbell Royalty Partners (KRP) opened at $17.50 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.23 and a current ratio of 5.23. Kimbell Royalty Partners has a 52-week low of $15.06 and a 52-week high of $20.50.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.36 per share. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.31. This represents a $1.44 annualized dividend and a yield of 8.23%. The ex-dividend date was Tuesday, February 6th.
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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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