Kimbell Royalty (NYSE:KRP) declared a quarterly dividend on Friday, October 27th, Fidelity reports. Investors of record on Monday, November 6th will be given a dividend of 0.31 per share by the energy company on Monday, November 13th. This represents a $1.24 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend is Friday, November 3rd. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.30.
Shares of Kimbell Royalty (NYSE KRP) traded down $0.08 during mid-day trading on Monday, reaching $16.92. 3,800 shares of the company’s stock were exchanged, compared to its average volume of 31,446. Kimbell Royalty has a one year low of $15.06 and a one year high of $20.89. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.08.
Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings data on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The company had revenue of $7.75 million for the quarter, compared to analysts’ expectations of $7.87 million. research analysts anticipate that Kimbell Royalty will post 0.17 EPS for the current fiscal year.
Several research analysts have commented on the stock. Stifel Nicolaus set a $19.00 price target on shares of Kimbell Royalty and gave the stock a “buy” rating in a report on Friday, August 18th. Royal Bank Of Canada restated a “buy” rating and issued a $19.00 target price on shares of Kimbell Royalty in a report on Tuesday, November 7th. Zacks Investment Research cut shares of Kimbell Royalty from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Imperial Capital initiated coverage on shares of Kimbell Royalty in a report on Tuesday, August 15th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Stephens reiterated an “overweight” rating and issued a $22.00 price target (down previously from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.33.
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About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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