Equities research analysts expect Kimbell Royalty Partners LP (NYSE:KRP) to report $28.33 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Kimbell Royalty Partners’ earnings. The lowest sales estimate is $26.00 million and the highest is $32.37 million. Kimbell Royalty Partners reported sales of $18.41 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 53.9%. The firm is expected to issue its next earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Kimbell Royalty Partners will report full-year sales of $110.96 million for the current fiscal year, with estimates ranging from $102.56 million to $115.11 million. For the next fiscal year, analysts anticipate that the company will post sales of $135.98 million, with estimates ranging from $105.13 million to $183.61 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Kimbell Royalty Partners.
Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, August 8th. The energy company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.45. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.83%. The company had revenue of $31.94 million for the quarter, compared to analysts’ expectations of $27.75 million.
Several equities research analysts have recently weighed in on KRP shares. SunTrust Banks started coverage on shares of Kimbell Royalty Partners in a research note on Monday, June 17th. They issued a “hold” rating and a $19.00 target price on the stock. Credit Suisse Group raised shares of Kimbell Royalty Partners from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Monday, May 13th. TheStreet downgraded shares of Kimbell Royalty Partners from a “c” rating to a “d+” rating in a research note on Friday, August 9th. UBS Group started coverage on shares of Kimbell Royalty Partners in a research note on Friday, May 17th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Kimbell Royalty Partners currently has a consensus rating of “Buy” and an average target price of $20.63.
Shares of KRP traded up $0.30 during midday trading on Monday, hitting $14.71. The stock had a trading volume of 47,700 shares, compared to its average volume of 68,554. Kimbell Royalty Partners has a 1 year low of $13.01 and a 1 year high of $24.40. The firm has a market cap of $345.54 million, a PE ratio of -73.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 7.07 and a quick ratio of 8.07. The stock’s 50 day moving average is $15.58 and its 200 day moving average is $16.94.
The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 10.61%. The ex-dividend date was Friday, August 2nd. Kimbell Royalty Partners’s dividend payout ratio is presently -780.00%.
In related news, Director William H. Adams III purchased 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $14.60 per share, with a total value of $73,000.00. Following the purchase, the director now directly owns 108,005 shares of the company’s stock, valued at approximately $1,576,873. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. increased its position in Kimbell Royalty Partners by 1,025.2% during the 4th quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after purchasing an additional 2,563 shares during the period. Needham Investment Management LLC bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $162,000. Raymond James Trust N.A. bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $167,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $195,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $226,000. 48.69% of the stock is currently owned by institutional investors.
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, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.
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