Kimbell Royalty Partners, LP (NYSE:KRP) Q2 2024 Results Conference Call August 1, 2024 11:00 AM ET Company Participants Rick Black - IR Bob Ravnaas - Chairman & CEO Davis Ravnaas - President & CFO Matt Daly - COO Blayne Rhynsburger - Controller Conference Call Participants Tim Rezvan - KeyBanc Capital Markets Julian Broche - Truist Securities Operator Greetings, and welcome to Kimbell Royalty Partners Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being re ...

Core Viewpoint - Analysts' price targets may not be reliable indicators for investors, as they often set overly optimistic targets influenced by business relationships and incentives [1][8][9] Group 1: Analysts' Price Targets - Analysts possess deep knowledge of company fundamentals but frequently exhibit a tendency to set inflated price targets [2] - A low standard deviation in price targets suggests strong agreement among analysts regarding stock price movements, which can serve as a starting point for further research [3][5] - The average price target for Kimbell Royalty (KRP) is $21.17, indicating a potential upside of 26.7% from its current price of $16.71 [4] Group 2: Earnings Estimates and Upside Potential - Strong consensus among analysts regarding KRP's earnings prospects supports the expectation of stock upside, as trends in earnings estimate revisions correlate with near-term stock price movements [6][10] - Over the past 30 days, one earnings estimate for KRP has increased, leading to a 16.9% rise in the Zacks Consensus Estimate [11] Group 3: Zacks Rank and Investment Implications - KRP holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating solid potential for upside [14] - While consensus price targets may not reliably predict the extent of KRP's gains, they can provide guidance on the direction of price movement [14]

The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: Investors have been betting on Kimbell Royalty because of its solid estimate revisions, as evident from the stock's 6% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away. The company is expected to earn $0.92 per share for the full year, which represents a change of +1.1% from the prior-year number. Analysts' growing optimism ...

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FORT WORTH, Texas, June 4, 2024 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) ("Kimbell"), a leading owner of oil and natural gas mineral and royalty interests in more than 129,000 gross wells across 28 states, today announced that it will release its second quarter 2024 financial results on Thursday, August 1, 2024, before the market opens. Kimbell will also declare its second quarter 2024 distribution concurrent with this release. In conjunction with the earnings release, Kimbell has scheduled ...

FORT WORTH, Texas, May 20, 2024 /PRNewswire/ -- Kimbell Royalty Partners, LP (NYSE: KRP) is saddened to announce the passing of board member Ben J. Fortson. Mr. Fortson had nearly 60 years of experience in the oil and gas industry and served as President and Chief Executive Officer of Fortson Oil Company since 1986. He also served as Chief Investment Officer and Executive Vice President of the Kimbell Art Foundation since 1975. Mr. Fortson began investing in oil and natural gas minerals and royalties in the ...

Financial Data and Key Metrics Changes - The company reported total revenues of $87.5 million for Q1 2024, marking a 4.2% increase compared to Q4 2023, which is the highest quarterly revenue in its history [29] - Run rate production was 24,678 BOE per day, reflecting 1.4% organic growth from Q4 2023 and 5.6% organic growth on an annualized basis [29] - Net income for Q1 was approximately $9.3 million, with net income attributable to common units at approximately $3.2 million or $0.04 per common unit [30] - Consolidated adjusted EBITDA reached a record of $74.1 million, up approximately 7.4% from the previous quarter [30] Business Line Data and Key Metrics Changes - The company maintained a flat rig count at 98 rigs between Q4 and Q1, representing approximately 16.3% market share of all land rigs drilling in the Continental United States [29] - The Haynesville basin saw a 3% organic production increase quarter-over-quarter, while the Permian basin grew by 5% [17][29] Market Data and Key Metrics Changes - The company affirmed its 2024 guidance, maintaining a daily production midpoint of 24,000 BOE per day, indicating confidence in continued robust development [31] - The company noted a conservative balance sheet with a net debt to trailing 12-months consolidated adjusted EBITDA ratio of 1x [31] Company Strategy and Development Direction - The company is focused on long-term growth and enhancing unitholder value, with a positive outlook for the royalties and mineral space [32] - The management expressed interest in M&A opportunities, particularly in the Permian basin, while noting a relatively muted start to the year for M&A activity [35] Management Comments on Operating Environment and Future Outlook - Management indicated that activity levels are in line with expectations, with no evidence of a dramatic slowdown in operations [22][24] - The company remains optimistic about industry trends and overall demand for energy, which supports its growth strategy [32] Other Important Information - A cash distribution of $0.49 per common unit was announced for Q1, representing a 14% increase compared to the previous quarter [45] - Approximately 79% of the distribution will be considered a return of capital, enhancing after-tax returns for common unitholders [38] Q&A Session Summary Question: What is the perspective on the M&A market and opportunities? - Management noted that most opportunities of scale are in the Permian, with expectations for larger deals, around $100 million-plus, to be consummated later in the year [35] Question: Is there any change anticipated in the cash distribution payout level? - Management confirmed that they do not anticipate any changes to the 75% payout ratio [11] Question: What is the outlook for production guidance and activity levels? - Management stated that production guidance remains unchanged, with activity levels slightly above the midpoint of guidance [22][24]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38005 Kimbell Royalty Partners, LP (Exact name of registrant as specified in its charter) 1311 (Primary Standard Industr ...

Kimbell Royalty (KRP) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -78.95%. A quarter ago, it was expected that this company would post earnings of $0.32 per share when it actually produced earnings of $0.14, delivering a surprise of -56.25%.Over the last four quarters, the company ...

Exhibit 99.1 NEWS RELEASE Kimbell Royalty Partners Announces Record First Quarter 2024 Results Record Q1 2024 Run-Rate Daily Production of 24,678 Boe/d (6:1) Exceeds Mid-Point of Guidance Record Q1 2024 Oil, Natural Gas and NGL Revenues and Adjusted EBITDA Activity on Acreage Remains Robust with 98 Active Rigs Drilling Representing 16% Market Share of U.S. Land Rig Count Announces Q1 2024 Cash Distribution of $0.49 per Common Unit FORT WORTH, Texas, May 2, 2024 – Kimbell Royalty Partners, LP (NYSE: KRP) ("K ...