$43.73 million in sales expected for Kimbell Royalty Partners, LP (NYSE:KRP) this quarter
Wall Street brokers expect Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) to report sales of $43.73 million for the current quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Kimbell Royalty Partners, with estimates ranging from $37.69 million to $55.00 million. Kimbell Royalty Partners reported sales of $22.42 million in the same quarter last year, suggesting a positive 95% year-over-year growth rate. The company is expected to release its next quarterly results before the market opens on Monday, January 1.
According to Zacks, analysts expect Kimbell Royalty Partners to report annual revenue of $201.34 million for the current fiscal year, with estimates ranging from $156.80 million to $272.00. millions of dollars. For the next fiscal year, analysts expect the company to post sales of $217.87 million, with estimates ranging from $176.20 million to $254.00 million. Zacks sales averages are an average based on a survey of research companies that cover Kimbell Royalty Partners.
Kimbell Royalty Partners (NYSE:KRP – Get Rating) last released quarterly earnings data on Thursday, February 24. The energy company reported earnings per share (EPS) of $0.44 for the quarter, beating the consensus estimate of $0.18 by $0.26. Kimbell Royalty Partners achieved a return on equity of 9.61% and a net margin of 22.64%. The company posted revenue of $55.68 million for the quarter, versus a consensus estimate of $45.50 million. During the same period of the previous year, the company achieved EPS of $0.30.
A number of research companies have recently commented on KRP. Raymond James raised his price target on shares of Kimbell Royalty Partners from $22.00 to $25.00 and gave the stock a “strong buy” rating in a Monday, April 25 report. Stephens assumed coverage for Kimbell Royalty Partners shares in a Wednesday, April 13 research note. They set an “overweight” rating and a price target of $22.00 on the stock. TheStreet upgraded shares of Kimbell Royalty Partners from a “c” rating to a “b” rating in a Friday, February 25 research report. KeyCorp raised its price target on shares of Kimbell Royalty Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a Monday, April 11 report. Finally, Zacks Investment Research upgraded shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a price target of $18.00 on the stock in a Wednesday 13 research note. april. Four research analysts gave the stock a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.20.
NYSE:KRP shares opened at $16.83 on Monday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 33.66 and a beta of 1.69. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt ratio of 0.62. The company has a 50-day moving average price of $16.49. Kimbell Royalty Partners has a 52 week low of $10.00 and a 52 week high of $17.72.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 9. Shareholders of record on Monday, May 2 will receive a dividend of $0.47. The ex-dividend date is Friday, April 29. This represents an annualized dividend of $1.88 and a yield of 11.17%. This is a positive change from Kimbell Royalty Partners’ previous quarterly dividend of $0.37. Kimbell Royalty Partners’ dividend payout ratio is currently 296.01%.
In related news, director Mitch S. Wynne sold 13,689 shares of Kimbell Royalty Partners in a trade that took place on Thursday, March 10. The stock was sold at an average price of $16.18, for a total transaction of $221,488.02. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, major shareholder Pep I. Holdings, Llc sold 3,999,919 shares of Kimbell Royalty Partners in a transaction that took place on Thursday, March 31. The stock was sold at an average price of $15.04, for a total value of $60,158,781.76. The disclosure of this sale can be found here. In the past three months, insiders have sold 4,015,608 shares of the company valued at $60,411,170. Insiders hold 5.60% of the shares of the company.
Several institutional investors and hedge funds have recently increased or reduced their stake in the company. Accel Wealth Management increased its position in Kimbell Royalty Partners by 40.0% during the 1st quarter. Accel Wealth Management now owns 7,000 shares of the energy company valued at $114,000 after buying an additional 2,000 shares last quarter. Truist Financial Corp increased its holdings of Kimbell Royalty Partners shares by 46.3% in the first quarter. Truist Financial Corp now owns 17,865 shares of the energy company valued at $291,000 after buying an additional 5,655 shares in the last quarter. Stephens Inc. AR increased its stake in Kimbell Royalty Partners by 285.3% during the fourth quarter. Stephens Inc. AR now owns 82,289 shares of the energy company worth $1,122,000 after acquiring an additional 60,931 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Kimbell Royalty Partners by 118.6% during the fourth quarter. Wells Fargo & Company MN now owns 266,546 shares of the energy company worth $3,633,000 after purchasing an additional 144,630 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in Kimbell Royalty Partners during the 4th quarter for a value of approximately $1,590,000. 28.88% of the shares are held by hedge funds and other institutional investors.
Company Profile Kimbell Royalty Partners (Get a rating)
Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and holds mineral interests and royalties in oil and gas properties in the United States. As of December 31, 2021, it held mineral interests and royalties on approximately 11.4 million gross acres and overriding royalty interests on approximately 4.7 million gross acres.
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