Group 1 - Kimbell Royalty Partners (NYSE: KRP) reported solid Q2 2025 results, with production levels close to Q1 2025 [2] - Development activity on Kimbell's acreage has performed better than average, indicating resilience in operations [2] - The article highlights the expertise of Aaron Chow, who has over 15 years of analytical experience and is recognized as a top-rated analyst [2]

Mr. Mavroudis is a professional portfolio manager specializing in institutional and private portfolios. He focuses on risk management, which is accompanied by in-depth financial market analysis (fundamental, macro and technical) to control the risk undertaken by the portfolios. He invests in all financial instruments globally (stocks, bonds, fx, commodities), restructuring investment portfolios based on prevailing conditions and the needs of each client-investor. Mr. Mavroudis has successfully navigated all ...

PART I – FINANCIAL INFORMATION [Item 1. Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements%20%28Unaudited%29) The unaudited consolidated financial statements for the period ended June 30, 2025, reflect total assets growing to **$1.28 billion** and net income more than doubling to **$52.5 million**, primarily driven by acquisition activity and an equity offering [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$1.28 billion** from **$1.12 billion** at year-end 2024, with total liabilities rising to **$483.5 million** due to increased long-term debt Consolidated Balance Sheet Summary (In thousands) | Balance Sheet Item | June 30, 2025 (In thousands) | December 31, 2024 (In thousands) | | :--- | :--- | :--- | | **Total Assets** | **$1,284,936** | **$1,119,915** | | Total Oil and natural gas properties, net | $1,186,185 | $1,024,822 | | **Total Liabilities** | **$483,533** | **$256,420** | | Long-term debt | $462,096 | $239,160 | | **Total Unitholders' Equity** | **$643,008** | **$547,493** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 total revenues increased to **$86.5 million** and net income rose to **$26.7 million**, though net income attributable to common units decreased to **$2.0 million** after distributions Consolidated Statements of Operations (Q2, In thousands) | Metric (Q2) | Three Months Ended June 30, 2025 (In thousands) | Three Months Ended June 30, 2024 (In thousands) | | :--- | :--- | :--- | | Total Revenues | $86,548 | $76,573 | | Operating Income | $37,786 | $23,892 | | Net Income | $26,672 | $15,187 | | Net Income Attributable to Common Units | $2,007 | $8,410 | | Basic EPS | $0.02 | $0.11 | Consolidated Statements of Operations (H1, In thousands) | Metric (H1) | Six Months Ended June 30, 2025 (In thousands) | Six Months Ended June 30, 2024 (In thousands) | | :--- | :--- | :--- | | Total Revenues | $170,757 | $158,807 | | Operating Income | $71,363 | $41,453 | | Net Income | $52,525 | $24,524 | | Net Income Attributable to Common Units | $19,869 | $11,579 | | Basic EPS | $0.22 | $0.16 | [Consolidated Statements of Changes in Unitholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Unitholders'%20Equity) Total unitholders' equity increased from **$547.5 million** to **$643.0 million** in H1 2025, driven by a **$163.6 million** equity offering and net income, partially offset by distributions - In the first six months of 2025, the company issued **11.5 million** common units through an equity offering, raising **$163.6 million** in capital[17](index=17&type=chunk) - Total distributions to unitholders amounted to **$43.2 million** for the six months ended June 30, 2025[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 saw **$126.5 million** net cash from operations, **$223.3 million** used in investing, and **$97.2 million** provided by financing, resulting in a **$0.4 million** net increase in cash Consolidated Statements of Cash Flows (H1 2025, In thousands) | Cash Flow Activity (H1 2025) | Amount (In thousands) | | :--- | :--- | | Net cash provided by operating activities | $126,474 | | Net cash used in investing activities | $(223,291) | | Net cash provided by financing activities | $97,173 | | **Net increase in cash** | **$356** | - Key financing activities in H1 2025 included **$163.6 million** from an equity offering, **$254.1 million** in new debt, a **$179.9 million** redemption of Series A preferred units, and **$81.3 million** in distributions to common unitholders[21](index=21&type=chunk) [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key notes detail the **$230.4 million** Boren Acquisition, **$182.3 million** preferred unit redemption, a **$625 million** credit facility increase, and a **$0.38** per common unit Q2 2025 distribution - On January 17, 2025, the Partnership completed the Boren Acquisition of mineral and royalty interests for approximately **$230.4 million**, funded by borrowings and proceeds from the 2025 Equity Offering[39](index=39&type=chunk) - On May 1, 2025, the borrowing base and aggregate elected commitments under the A&R Credit Agreement were increased from **$550.0 million** to **$625.0 million**[60](index=60&type=chunk) - The Partnership redeemed **162,500** Series A preferred units (**50%** of those outstanding) on May 7, 2025, for an aggregate price of **$182.3 million**[66](index=66&type=chunk) - Subsequent to the quarter's end, on August 7, 2025, the Board declared a Q2 2025 cash distribution of **$0.38** per common unit[88](index=88&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the impact of the Boren Acquisition on production and financial results, noting a slight Q2 2025 revenue decrease due to lower commodity prices, and outlines liquidity strategies including debt repayment [Overview and Recent Developments](index=29&type=section&id=Overview%20and%20Recent%20Developments) The company holds interests in **17.0 million** gross acres, with recent developments including a **$163.6 million** equity offering, the **$230.4 million** Boren Acquisition, and a **$182.3 million** preferred unit redemption - As of June 30, 2025, the company owned interests in approximately **17.0 million** gross acres and over **131,000** gross wells, with the Permian Basin being the largest contributor to production[98](index=98&type=chunk)[99](index=99&type=chunk) - Major corporate actions in H1 2025 included the 2025 Equity Offering (**$163.6 million** net proceeds), the Boren Acquisition (~**$230.4 million**), and a partial redemption of preferred units (**$182.3 million**)[102](index=102&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) [Results of Operations](index=41&type=section&id=Results%20of%20Operations) Q2 2025 oil and gas revenues decreased by **$2.3 million** to **$74.7 million** due to lower oil prices, despite increased production, while H1 operating income rose to **$71.4 million** from **$41.5 million** - Q2 2025 production volumes increased to **25,355 Boe/d** from **24,110 Boe/d** in Q2 2024, primarily due to the Boren Acquisition[139](index=139&type=chunk) - The average realized oil price in Q2 2025 was **$63.52/Bbl**, a **17.7%** decrease from **$77.20/Bbl** in Q2 2024[140](index=140&type=chunk) - For H1 2025, the company recorded a **$3.3 million** gain on commodity derivatives, compared to a **$6.8 million** loss in H1 2024[137](index=137&type=chunk) [Non-GAAP Financial Measures](index=35&type=section&id=Non-GAAP%20Financial%20Measures) Q2 2025 Consolidated Adjusted EBITDA was **$63.8 million**, a slight decrease, while Cash Available for Distribution on common units increased slightly to **$47.1 million** Non-GAAP Metric Summary (In thousands) | Non-GAAP Metric | Q2 2025 (In thousands) | Q2 2024 (In thousands) | H1 2025 (In thousands) | H1 2024 (In thousands) | | :--- | :--- | :--- | :--- | :--- | | Consolidated Adjusted EBITDA | $63,844 | $65,821 | $139,377 | $139,934 | | Cash available for distribution on common units | $47,121 | $46,058 | $104,280 | $94,936 | [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) The company funded acquisitions and preferred unit redemption in H1 2025 through an equity offering and credit facility, with **$13.6 million** of Q2 2025 cash available for distribution allocated to debt repayment - The Board of Directors allocated **25%** of cash available for distribution for Q2 2025, amounting to **$13.6 million**, for the repayment of outstanding borrowings under the secured revolving credit facility[165](index=165&type=chunk) - On May 1, 2025, the company's credit facility borrowing base was increased to **$625.0 million**[163](index=163&type=chunk)[177](index=177&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages commodity price and interest rate risks, with a **1%** interest rate increase estimated to raise annual interest expense by **$4.6 million** on **$462.1 million** in floating-rate debt - The company's main market risk is commodity price volatility, which it mitigates using fixed-price swap derivative contracts for oil and natural gas[184](index=184&type=chunk)[185](index=185&type=chunk) - With **$462.1 million** in outstanding debt, a **1%** increase in interest rates is estimated to increase annual interest expense by approximately **$4.6 million**[190](index=190&type=chunk) [Item 4. Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report (June 30, 2025)[192](index=192&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, these controls[193](index=193&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) As of June 30, 2025, the company is not aware of any legal proceedings or contingencies that would materially affect its financial condition or operations - As of June 30, 2025, management is not aware of any legal proceedings that would materially impact the Partnership's financial condition or operations[85](index=85&type=chunk)[195](index=195&type=chunk) [Item 1A. Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024, were reported - The report refers to the risk factors disclosed in the 2024 Form 10-K, indicating no material updates during the quarter[196](index=196&type=chunk) [Item 5. Other Information](index=57&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter ended June 30, 2025 - No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans during the reporting period[197](index=197&type=chunk) [Item 6. Exhibits](index=59&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, credit agreement amendments, and CEO/CFO certifications - Key exhibits filed include Amendment No. 3 to the Amended and Restated Credit Agreement, and CEO/CFO certifications pursuant to the Securities Exchange Act of 1934 and Sarbanes-Oxley Act[199](index=199&type=chunk)

Financial Data and Key Metrics Changes - Total revenues from oil, natural gas, and NGLs reached $75 million in Q2 2025, with a run rate production of 25,355 Boe per day [7] - General and administrative expenses for Q2 were $9.6 million, with cash G&A expenses at $5.4 million or $2.36 per BOE, reflecting a decrease in costs [8][10] - Consolidated adjusted EBITDA for the second quarter was $63.8 million, indicating strong cash flow [8] - The company announced a cash distribution of $0.38 per common unit, equating to 75% of cash available for distribution [9] Business Line Data and Key Metrics Changes - The overall rig count decreased by 2% to 88 rigs actively drilling, while the US land rig count dropped by 7% [5] - In the Permian Basin, the rig count increased by four rigs, and in Haynesville, it increased by five rigs, indicating localized growth despite broader declines [5] Market Data and Key Metrics Changes - The company’s market share of US land rigs actively drilling increased by 1% to 17% [5] - Net DUCs (drilled but uncompleted wells) rose by 9% quarter over quarter, primarily driven by the Permian Basin [5] Company Strategy and Development Direction - The company remains focused on organic growth opportunities and is exploring M&A opportunities, particularly for deals under $500 million [15][16] - The management emphasized a conservative approach to acquisitions, with a focus on maintaining a strong balance sheet and financial flexibility [10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the prospects for continued robust development through 2025, supported by active drilling on their acreage [11] - The company noted a slowdown in Permian packages coming to market, which may affect future acquisition opportunities [27] Other Important Information - The company redeemed 50% of the outstanding Series A cumulative convertible preferred units, simplifying its capital structure [10] - Approximately 100% of the announced distribution is expected to be considered a return of capital, enhancing after-tax returns for unitholders [9] Q&A Session Summary Question: Inquiry about potential upstream partnerships - Management indicated that while exploring partnerships is an option, it is not a top priority due to a strong organic growth pipeline [15][16] Question: Discussion on rig activity resilience - Management attributed the resilience of rig activity to the quality and diversified nature of their asset base, which has shown more stickiness compared to the broader market [33] Question: Expectations for natural gas growth - Management anticipates a slight increase in natural gas production, with a potential shift towards a gassier production mix if natural gas continues to outperform oil [35][36] Question: Changes in M&A market valuations - Management noted that acquisition valuations are likely to decrease as sellers adjust expectations in response to a less favorable growth environment [44] Question: Factors driving lower G&A expenses - Lower professional fees contributed to reduced G&A expenses, with expectations to maintain costs at the lower end of guidance moving forward [46]

Company Overview - Kimbell Royalty Partners offers a 10.1% annualized cash distribution yield[6] - The company has interests in over 131,000 gross wells across over 17 million gross acres in the US[13] - Kimbell has completed over $2.0 billion in M&A transactions since its IPO in 2017[13] - Kimbell has grown run-rate average daily production by over 8x since IPO[13] - Kimbell has returned 71% of $18.00/unit IPO price via quarterly cash distributions[13] Financial Performance - Kimbell generated $74.7 million in Oil, Natural Gas and NGL Revenues in Q2 2025[16] - Consolidated Adjusted EBITDA was $63.8 million in Q2 2025[16] - Q2 2025 run-rate average daily production was 25,355 Boe/d (6:1)[16] - Net Debt / TTM Adjusted EBITDA was 1.6x as of 6/30/2025[15] Asset Base and Strategy - Kimbell estimates that approximately 100% of the distribution to be paid on August 25, 2025 is estimated to constitute non-taxable reductions to the tax basis of each distribution recipient's ownership interest in Kimbell[10] - The company has a shallow PDP decline rate of approximately 14%[15] - Kimbell has a net royalty acre position of approximately 158,350 acres[15] - Kimbell estimates that only 6.5 net wells are needed per year to maintain production[38] - Kimbell has 88 active rigs drilling on its acreage, representing approximately 17% market share of U S land rig count[18]

[Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) Kimbell Royalty Partners reported strong Q2 2025 results with **25,355 Boe/d** production, **$74.7 million** in revenues, **$63.8 million** Adjusted EBITDA, and a **$0.38** cash distribution per common unit, maintaining **88** active rigs | Metric | Value | | :--- | :--- | | **Run-Rate Daily Production** | 25,355 Boe/d (6:1) | | **Oil, Natural Gas & NGL Revenues** | $74.7 million | | **Net Income** | ~$26.7 million | | **Consolidated Adjusted EBITDA** | $63.8 million | | **Cash G&A per BOE** | $2.36 | | **Active Rigs on Acreage** | 88 (17% U.S. market share) | | **Q2 2025 Cash Distribution** | $0.38 per common unit | - The company announced a Q2 2025 cash distribution of **$0.38 per common unit**, representing a **75% payout ratio** and a **10.3% annualized yield**. The remaining **25%** of cash available for distribution will be used to repay outstanding borrowings[4](index=4&type=chunk) - As of June 30, 2025, Kimbell's major properties had **7.99 net DUCs** and permitted locations, exceeding the estimated **6.5 net wells** required to maintain flat production[4](index=4&type=chunk) [Management Commentary and Shareholder Distributions](index=2&type=section&id=Management%20Commentary%20and%20Shareholder%20Distributions) Management emphasized resilient operational performance, including increased U.S. land rig market share and a **$0.38** per common unit cash distribution, with remaining cash flow allocated to debt reduction - The CEO emphasized the company's strong operational position, with its market share of U.S. land rigs increasing to **17%** and net DUCs growing by **9%** quarter-over-quarter, indicating near-term production growth[5](index=5&type=chunk) - Cash G&A per BOE was below the low end of guidance, which management attributes to operational discipline and positive operating leverage[5](index=5&type=chunk) | Distribution Metric | Value | | :--- | :--- | | **Q2 2025 Distribution** | $0.38 per common unit | | **Payout Ratio** | 75% of cash available for distribution | | **Debt Paydown** | ~$13.6 million (remaining 25%) | | **Payment Date** | August 25, 2025 | | **Record Date** | August 18, 2025 | - Kimbell expects approximately **100%** of the Q2 2025 distribution to be considered a non-taxable return of capital for U.S. federal income tax purposes, which reduces the unitholder's cost basis[6](index=6&type=chunk)[7](index=7&type=chunk) [Financial and Operational Performance](index=2&type=section&id=Financial%20and%20Operational%20Performance) Kimbell achieved Q2 2025 revenues of **$86.5 million**, net income of **$26.7 million**, **25,355 Boe/d** production, maintained **7.99 net DUCs**, and managed debt at **$462.1 million** with a **1.6x** leverage ratio [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Q2 2025 Realized Prices | Commodity | Average Realized Price | | :--- | :--- | | **Oil** | $63.48 / Bbl | | **Natural Gas** | $2.54 / Mcf | | **NGLs** | $24.10 / Bbl | | **Combined** | $33.04 / Boe | Q2 2025 Key Financial Metrics | Metric | Value | | :--- | :--- | | **Total Revenues** | $86.5 million | | **Net Income** | ~$26.7 million | | **Net Income (to common units)** | ~$2.0 million ($0.02/unit) | | **Consolidated Adjusted EBITDA** | $63.8 million | - As of June 30, 2025, Kimbell had **$462.1 million** in debt outstanding, with a net debt to TTM consolidated Adjusted EBITDA ratio of approximately **1.6x**[11](index=11&type=chunk) - The company increased its borrowing base from **$550 million** to **$625 million** and redeemed **50%** of its Series A Preferred Units to simplify its capital structure[12](index=12&type=chunk) [Production](index=3&type=section&id=Production) Q2 2025 Production Breakdown | Metric | Value | | :--- | :--- | | **Average Daily Production** | 25,355 Boe/d (6:1) | | **Production Mix** | | |    Natural Gas | 47% | |    Liquids (Oil & NGLs) | 53% | |       Oil | 33% | |       NGLs | 20% | [Operational Update](index=3&type=section&id=Operational%20Update) - As of June 30, 2025, Kimbell had **88 rigs** actively drilling on its acreage, representing an approximate **16.5%** market share of all U.S. land rigs[15](index=15&type=chunk) DUCs and Permits by Basin (as of June 30, 2025) | Basin | Net DUCs | Net Permits | | :--- | :--- | :--- | | **Permian** | 3.27 | 2.15 | | **Eagle Ford** | 0.22 | 0.08 | | **Haynesville** | 0.35 | 0.13 | | **Mid-Continent** | 0.78 | 0.39 | | **Bakken** | 0.36 | 0.10 | | **Appalachia** | 0.02 | 0.02 | | **Rockies** | 0.10 | 0.02 | | **Total** | **5.10** | **2.89** | [Hedging Update](index=4&type=section&id=Hedging%20Update) Kimbell implemented fixed-price oil and natural gas swaps through Q2 2027 to stabilize cash flow by locking in future production prices Fixed Price Swaps as of June 30, 2025 | Period | Oil Volume (BBL) | Nat Gas Volume (MMBTU) | Wtd. Avg. Oil Price ($/BBL) | Wtd. Avg. Nat Gas Price ($/MMBTU) | | :--- | :--- | :--- | :--- | :--- | | **3Q 2025** | 136,068 | 1,261,964 | $74.20 | $3.74 | | **4Q 2025** | 146,372 | 1,291,680 | $68.26 | $3.68 | | **1Q 2026** | 146,880 | 1,296,000 | $70.38 | $4.07 | | **2Q 2026** | 148,512 | 1,310,400 | $70.78 | $3.33 | | **Full Year 2026** | 605,680 | 5,256,000 | ~$67.70 | ~$3.69 | | **Full Year 2027 (H1)** | 304,623 | 2,658,528 | ~$62.65 | ~$3.96 | [Financial Statements](index=7&type=section&id=Financial%20Statements) Q2 2025 unaudited financial statements report total assets of **$1.28 billion**, liabilities of **$483.5 million**, revenues of **$86.5 million**, and net income of **$26.7 million**, driven by derivative gains [Condensed Consolidated Balance Sheet](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) Balance Sheet Summary (as of June 30, 2025) | Account | Amount (in thousands) | | :--- | :--- | | **Total Current Assets** | $88,249 | | **Total Assets** | **$1,284,936** | | **Total Current Liabilities** | $16,185 | | **Long-Term Debt** | $462,096 | | **Total Liabilities** | **$483,533** | | **Total Unitholders' Equity** | **$643,008** | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary (Three Months Ended June 30) | Account (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | **Total Revenues** | $86,548 | $76,573 | | **Operating Income** | $37,786 | $23,892 | | **Net Income** | $26,672 | $15,187 | | **Net Income Attributable to Common Units** | $2,007 | $8,410 | | **Diluted EPS** | $0.02 | $0.11 | [Supplemental Schedules (Non-GAAP Reconciliations)](index=9&type=section&id=Supplemental%20Schedules%20(Non-GAAP%20Reconciliations)) This section defines and reconciles non-GAAP measures, showing Q2 2025 Consolidated Adjusted EBITDA of **$63.8 million**, **$47.1 million** cash available for distribution, and a net debt to TTM Adjusted EBITDA ratio of **1.6x** [Definition of Non-GAAP Measures](index=9&type=section&id=Definition%20of%20Non-GAAP%20Measures) - Adjusted EBITDA is used by management to evaluate operating performance and cash flow available for distributions, excluding items like depreciation, interest, taxes, and unrealized derivative gains/losses[28](index=28&type=chunk) - Cash G&A and Cash G&A per Boe are used to measure cash costs relative to production, providing a metric for operational efficiency[29](index=29&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Distribution](index=10&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA%20and%20Cash%20Available%20for%20Distribution) Q2 2025 Reconciliation Summary (in thousands) | Metric | Value | | :--- | :--- | | **Net Income** | $26,672 | | **Consolidated Adjusted EBITDA** | $63,844 | | **Adjusted EBITDA (attributable to KRP)** | $55,268 | | **Cash Available for Distribution (on common units)** | $47,121 | | **Cash Available per Common Unit** | $0.50 | | **Declared Distribution per Common Unit** | $0.38 | - The difference between cash available for distribution (**$0.50/unit**) and the declared distribution (**$0.38/unit**) is due to the company allocating **25%** of cash to repay debt on its revolving credit facility[33](index=33&type=chunk) [Net Debt to Trailing Twelve Month Consolidated Adjusted EBITDA Calculation](index=13&type=section&id=Net%20Debt%20to%20Trailing%20Twelve%20Month%20Consolidated%20Adjusted%20EBITDA%20Calculation) Leverage Ratio Calculation (as of June 30, 2025) | Metric (in thousands) | Value | | :--- | :--- | | **Long-Term Debt** | $462,096 | | **Cash and Cash Equivalents (capped)** | ($25,000) | | **Net Debt** | $437,096 | | **Trailing Twelve Month Adj. EBITDA** | $279,816 | | **Net Debt / TTM Adj. EBITDA** | **1.6x** |

Q2 2025 Run-Rate Daily Production of 25,355 Boe/d (6:1) Activity on Acreage Remains Robust with 88 Active Rigs Drilling Representing 17%1 Market Share of U.S. Land Rig Count Announces Q2 2025 Cash Distribution of $0.38 per Common Unit FORT WORTH, Texas, Aug. 7, 2025 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell" or the "Company"), a leading owner of oil and natural gas mineral and royalty interests in over 131,000 gross wells across 28 states, today announced financial and operating res ...

Investors should think about putting KRP on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions. Shares of KRP have been moving higher over the past four weeks, up 5.8%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that KRP could be poised for a continued surge. The bullish case solidifies once investors consider KRP's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fi ...

Group 1 - Kimbell Royalty (KRP) shares have increased by 4.4% over the past four weeks, closing at $14.6, with a mean price target of $18.6 indicating a potential upside of 27.4% [1] - The average price targets range from a low of $12.00 to a high of $24.00, with a standard deviation of $4.98, suggesting variability in analyst estimates [2] - Analysts show a consensus that KRP will report better earnings than previously estimated, which historically correlates with stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for KRP's current year earnings has risen by 45.9% over the last 30 days, with two estimates moving higher and no negative revisions [12] - KRP holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting the extent of KRP's gains, they can provide guidance on the direction of price movement [14]

Core Viewpoint - Kimbell Royalty (KRP) shares have increased by 3.9% recently, with a mean price target of $18.6 suggesting a potential upside of 30.7% from the current price of $14.23 [1] Price Targets and Analyst Estimates - The mean estimate consists of five short-term price targets with a standard deviation of $4.98, indicating variability among analysts [2] - The lowest estimate is $12.00, suggesting a 15.7% decline, while the highest estimate is $24.00, indicating a potential increase of 68.7% [2] - Analysts' price targets can often mislead investors, as empirical research shows they rarely indicate actual stock price movements [7][10] Earnings Estimates and Analyst Agreement - Analysts have shown increasing optimism regarding KRP's earnings, with a strong consensus on higher EPS estimates, which correlates with potential stock price increases [11] - Over the past 30 days, one estimate has increased, leading to a 34.4% rise in the Zacks Consensus Estimate for the current year [12] - KRP holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Conclusion on Price Movement - While the consensus price target may not be a reliable measure of KRP's potential gains, the direction indicated by these targets appears to be a useful guide for investors [14]