Kimbell Royalty Partners, LP Declares Quarterly Dividend of $0.40 (NYSE:KRP)

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.40 per share by the energy company on Tuesday, March 25th. This represents a $1.60 annualized dividend and a yield of 10.45%. The ex-dividend date of this dividend is Tuesday, March 18th.

Kimbell Royalty Partners has a payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kimbell Royalty Partners to earn $1.01 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 154.5%.

Kimbell Royalty Partners Stock Performance

Shares of NYSE KRP opened at $15.31 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. Kimbell Royalty Partners has a 1 year low of $14.93 and a 1 year high of $17.07. The firm has a fifty day moving average price of $15.75 and a 200-day moving average price of $15.88. The stock has a market cap of $1.46 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of research firms have commented on KRP. Truist Financial raised their price target on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James lifted their target price on Kimbell Royalty Partners from $19.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd.

About Kimbell Royalty Partners