| Wednesday | ||||
2020 Energy Virtual… 2020 Energy Virtual Conference will be held on July 7-8. | ||||
| Tuesday | ||||
2020 Energy Virtual… 2020 Energy Virtual Conference will be held on July 7-8. | ||||
TD Securities analyst… TD Securities analyst Aaron Bilkoski initiated coverage of Kimbell Royalty Partners with a Buy rating and $18.50 price target. With a footprint in all the major basins in the U.S., the company offers "significant commodity and operator diversification," Bilkoski tells investors in a research note. Further, Kimbell offers a "compelling" distribution to unitholders under most commodity price scenarios, adds the analyst. | ||||
| Over a month ago | ||||
Reports Q1 revenue… Reports Q1 revenue $35.9M, consensus $26.95M. The increase in net loss during the first quarter of 2020 was primarily due to a $70.9M non-cash ceiling test impairment recorded during the quarter related to the substantial weakness in commodity prices driven by recent production disagreements among members of the Organization of Petroleum Exporting Countries and other foreign, oil-exporting countries, coupled with decreased demand resulting from the COVID-19 pandemic and increasing supply by domestic producers. This non-cash ceiling test impairment is not expected to impact the cash flow available for distribution generated by Kimbell or its liquidity or ability to make acquisitions in the future. | ||||
"We are pleased to… "We are pleased to announce that the company performed very well in the Q1 of this year with expected record production, as well as strong cash provided by operating activities and consolidated Adjusted EBITDA, in each case after giving effect to a full quarter of Springbok. We had 70 active rigs operating on our properties as of April 17, 2020, which represents an increased market share of all land drilling rigs in the continental U.S. compared to year-end 2019," commented the company. Sees Q1 oil, natural gas and natural gas liquids, or NGL, revenues $24.5M-$26.5M, up 12% at its midpoint as compared to Q1 of last year. Sees Q1 run-rate daily production 12,500-12,700 barrels of oil equivalent, orBoe", per day, up 5% at its midpoint as compared to Q1 last year. Sees Q1 net cash provided by operating activities $19.7M-$21.9M, up 32% at its midpoint as compared to Q1 last year. Sees Q1 consolidated Adjusted EBITDA $18.0M-$20.0M, up 18% at its midpoint as compared to Q1 last year. | |
Imperial Capital analyst… Imperial Capital analyst Jason Wangler lowered the firm's price target on Kimbell Royalty Partners to $7 from $15 and keeps an Outperform rating on the shares. The closing of the company's Springbook acquisition adds considerable production and cash flow, Wangler tells investors in a research note. |
| Over a quarter ago | ||||
Credit Suisse analyst… Credit Suisse analyst Chris Baker assumed coverage of Kimbell Royalty Partners with an Outperform rating and $13 price target. The analyst believes the shares offer attractive exposure to a well-diversified portfolio of mineral acres spread across conventional and unconventional assets in 28 states. Further, he believes the advantaged base decline and conservative A&D strategy adds meaningful visibility on mid-single-digit organic production growth over the next several years, despite the recent volatility in commodity prices. | ||||
Reports Q4 revenue… Reports Q4 revenue $25.4M, consensus $29.13M. Kimbell recorded a non-cash $103.3M impairment expense in the fourth quarter of 2019 as a result of a full-cost ceiling test, which was primarily attributable to a decline in the 12-month average price of oil and natural gas. This non-cash impairment expense is not expected to impact the cash flow available for distribution generated by Kimbell or its liquidity or ability to make acquisitions in the future. | ||||