Kimbell Royalty (NYSE:KRP) Shareholders to Get $0.45 Quarterly Dividend

Kimbell Royalty (NYSE:KRP) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.45 per share by the energy company on Monday, November 23rd. This represents a $1.80 annualized dividend and a yield of 12.0%. The ex-dividend date is Monday, November 16th. This is a 4.3% decrease from Kimbell Royalty’s previous quarterly dividend of $0.47.

Kimbell Royalty has raised its dividend by an average of 0.1% per year over the last three years. Kimbell Royalty has a dividend payout ratio of 132.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kimbell Royalty to earn $1.11 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 169.4%.

Kimbell Royalty Trading Down 2.8%

Shares of NYSE KRP opened at $15.04 on Friday. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $17.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 18.43 and a beta of 0.38. The business’s 50 day moving average price is $15.36 and its 200-day moving average price is $14.80.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Thursday, November 5th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $86.33 million during the quarter, compared to analysts’ expectations of $104.41 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. Kimbell Royalty’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. On average, sell-side analysts expect that Kimbell Royalty will post 1.10 earnings per share for the current year.

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total value of $68,221.92. Following the transaction, the insider directly owned 70,639 shares of the company’s stock, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty

Large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in Kimbell Royalty during the 2nd quarter worth approximately $37,000. Next Level Wealth Planning LLC purchased a new stake in Kimbell Royalty during the 3rd quarter valued at about $39,000. Hilltop National Bank purchased a new stake in Kimbell Royalty during the 2nd quarter valued at about $44,000. First Command Advisory Services Inc. acquired a new position in shares of Kimbell Royalty in the third quarter valued at about $43,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Kimbell Royalty in the first quarter valued at about $60,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP (NYSE: KRP) is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.