# Kimbell Royalty Partners, LP (KRP)

> Source: Nexqual · https://nexqual.com/KRP · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Kimbell Royalty Partners, LP (KRP), nexqual.com/KRP" · informational, not investment advice.

**Price:** USD 16.88 (-0.53% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 16.97 · day 16.83–17.05 · 52w 11.31–17.12 · market cap $2.17B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $341M, net income $101M (29.7% margin) (SEC filings).
- Valuation: P/E 21.4x.
- Analysts: Buy (mean 2.17 on a 1–5 scale) (6 analysts), mean target USD 19.2 (range 17–23).
- Total return with dividends: 1Y +42.8% vs S&P 500 +14.8%; 5Y +90.7% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.26, revenue estimate $103M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: USD 1.6 a year (yield 9.43%), paid quarterly; latest ex-dividend date 2026-08-17; annual dividends fell 5.2% a year 2022–2025.
- Short interest: 4.08% of float (as of 2026-10-15), 4.5 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $175M | $282M | $294M | $309M | $334M | $341M |
| Operating income | $49.3M | $137M | $110M | $37.0M | $133M | $137M |
| Net income | $42.4M | $131M | $83.0M | $11.1M | $99.7M | $101M |
| Operating margin | 28.2% | 48.6% | 37.4% | 12.0% | 39.8% | 40.1% |
| Net margin | 24.2% | 46.4% | 28.2% | 3.6% | 29.9% | 29.7% |
| Revenue growth | +93.5% | +61.0% | +4.3% | +5.2% | +7.9% | — |
| Cash + short-term investments | $7.1M | $24.6M | $31.0M | $34.2M | $44.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 21.4x · P/S 6.4x · Earnings yield 4.67%

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 6 analysts; mean target USD 19.2 (low 17, high 23).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-15 | Keybanc | Target raised | Overweight | $17 → $18 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +42.8% | +90.7% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +43.1% | +13.8% |
| Volatility (annualized) | 22.7% | 26.0% |
| Max drawdown | -15.5% (Nov 2025→Dec 2025) | -24.5% (Dec 2024→Apr 2025) |

## Dividends
Annual dividend rate USD 1.60 per share, yield 9.43% at the current price. Paid over the last 12 months: USD 1.60 in 4 payments (quarterly).
Most recent ex-dividend date: Aug 17, 2026; payment date: Aug 24, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: raised 14.6% to USD 0.47 per payment from USD 0.41, starting with the Aug 17, 2026 ex-dividend date.
Payout ratio 178% of earnings (above 100%: dividends exceeded net income; for REITs and partnerships, cash-flow measures are more relevant) · 5-year average yield 10.76% · annual dividends fell 5.2% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-08-17 | USD 0.47 |
| 2026-05-19 | USD 0.41 |
| 2026-03-18 | USD 0.37 |
| 2025-11-17 | USD 0.35 |
| 2025-08-18 | USD 0.38 |
| 2025-05-20 | USD 0.47 |
| 2025-03-18 | USD 0.40 |
| 2024-11-18 | USD 0.41 |
Total by calendar year: 2022 USD 1.88 · 2023 USD 1.73 · 2024 USD 1.75 · 2025 USD 1.60.

## Short interest
3,920,411 shares sold short, 4.08% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 3,667,275 shares (+6.9%). Days to cover: 4.5 (short shares ÷ average daily volume).

## Peers (Oil & Gas E&P)
BSM (Black Stone Minerals, L.P.) USD 14.8 -0.40% · BTE (Baytex Energy Corp) USD 5.37 -1.65% · CRK (Comstock Resources, Inc.) USD 14.59 -1.88% · CRC (California Resources Corporatio) USD 54.67 -0.09% · CRGY (Crescent Energy Company) USD 13.75 +0.00% · CNX (CNX Resources Corporation) USD 36.79 -3.31%

## More
Full page: https://nexqual.com/KRP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.26 | $0.21 | +22.5% | $102.9M | 3 |
| Next quarter (ends 2026-12-31) | $0.33 | $0.24 | +38.9% | $111.7M | 3 |
| Current fiscal year (ends 2026-12-31) | $1.08 | $0.85 | +25.9% | $395.1M | 3 |
| Next fiscal year (ends 2027-12-31) | $1.04 | $0.86 | +20.5% | $402.7M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±6.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 19.9% | ±6.5% |
| 2027-01-15 | 78 | 20.6% | ±8.7% |
| 2027-04-16 | 169 | 22.0% | ±13.3% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.28 | $0.27 | Beat +3.7% | — |
| — | Quarter ended Mar 31, 2026 | $0.21 | $0.21 | In line | — |
| — | Quarter ended Dec 31, 2025 | $0.21 | $0.14 | Beat +50.0% | — |
| — | Quarter ended Sep 30, 2025 | $0.21 | $0.16 | Beat +31.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).