Kimbell Royalty Partners LP (NYSE:KRP) – Investment analysts at Imperial Capital upped their Q3 2018 earnings per share (EPS) estimates for Kimbell Royalty Partners in a report issued on Tuesday, October 30th. Imperial Capital analyst J. Wangler now anticipates that the energy company will earn $0.16 per share for the quarter, up from their prior forecast of $0.06. Imperial Capital also issued estimates for Kimbell Royalty Partners’ FY2018 earnings at $0.49 EPS, Q2 2019 earnings at $0.12 EPS, Q3 2019 earnings at $0.12 EPS and Q4 2019 earnings at $0.15 EPS.
Several other brokerages have also issued reports on KRP. Stifel Nicolaus restated a “buy” rating and set a $24.00 price target (down previously from $25.00) on shares of Kimbell Royalty Partners in a research note on Friday, August 10th. Zacks Investment Research downgraded shares of Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Finally, Raymond James raised their price objective on shares of Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 16th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Kimbell Royalty Partners currently has an average rating of “Buy” and a consensus price target of $24.20.
Shares of KRP stock opened at $19.80 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. Kimbell Royalty Partners has a 12-month low of $15.70 and a 12-month high of $24.50. The company has a market cap of $508.60 million, a PE ratio of 152.31 and a beta of 1.95.
Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, August 9th. The energy company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). Kimbell Royalty Partners had a positive return on equity of 1.93% and a negative net margin of 126.81%. The company had revenue of $10.71 million for the quarter, compared to analysts’ expectations of $10.95 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 12th. Investors of record on Monday, November 5th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 9.09%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 1,323.08%.
In other news, Director Erik B. Daugbjerg purchased 1,500 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was purchased at an average cost of $22.52 per share, with a total value of $33,780.00. Following the acquisition, the director now directly owns 4,978 shares in the company, valued at $112,104.56. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erik B. Daugbjerg purchased 2,500 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average cost of $22.14 per share, with a total value of $55,350.00. Following the completion of the acquisition, the director now owns 7,978 shares in the company, valued at $176,632.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,500 shares of company stock valued at $121,160. 14.20% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Yorktown Energy Partners X L.P. bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $20,382,000. Raymond James & Associates bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $381,000. Renaissance Technologies LLC bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $1,117,000. Finally, SG Capital Management LLC bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at $1,366,000. 17.34% of the stock is owned by hedge funds and other institutional investors.
Kimbell Royalty Partners Company Profile
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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