Kimbell Royalty Partners, LP (NYSE:KRP) changed -9.33% to recent value of $15.75. The stock transacted 3222229 shares during most recent day however it has an average volume of 114.38K shares. It spotted trading -16.20% off 52-week high price. On the other end, the stock has been noted 19.68% away from the low price over the last 52-weeks.
On Jan. 10, 2020, Kimbell Royalty Partners, LP (NYSE:KRP) disclosed the pricing of its public offering of 5,000,000 common units representing limited partner interests, at a public offering price of $15.50 per common unit. The total gross proceeds of the offering, before underwriters’ discounts and estimated offering expenses, will be approximately $77.5 million. Certain selling unitholders of Kimbell have granted the underwriters an option to purchase up to 750,000 additional common units at the public offering price less the underwriting discount and commissions. The offering is expected to close on January 14, 2020, subject to customary closing conditions.
Kimbell intends to use the net proceeds from the offering to fund a portion of the cash purchase price for the pending acquisition of oil and natural gas mineral and royalty interests held by Springbok Energy Partners, LLC and Springbok Energy Partners II, LLC (the Springbok Acquisition), as described in Kimbell’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the SEC) on January 9, 2020, and to pay fees and expenses related to the Springbok Acquisition. Pending the closing of the Springbok Acquisition, Kimbell intends to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility. Kimbell may use future amounts borrowed under its revolving credit facility for general partnership purposes, including a potential redemption of a portion of its outstanding 7.0% Series A Cumulative Convertible Preferred Units (the Preferred Units).
KRP has an operating margin of -44.20% while its profit margin remained -29.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained 58.80% for this year while earning per share for the next 5-years is expected to reach at 47.31%.
The company has 25.45M of outstanding shares and 8.58M shares were floated in the market. According to the most recent quarter its current ratio was 5.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -6.82% from the mean of 20 days, 1.77% from mean of 50 days SMA and performed -0.27% from mean of 200 days price. Company’s performance for the week was -7.41%, -5.12% for month and YTD performance remained -7.35%.
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