KRP
EnergyKimbell Royalty Partners, LP · Oil & Gas Exploration & Production · $1B
What is Kimbell Royalty Partners, LP?
Kimbell Royalty Partners is a Fort Worth-based limited partnership that acquires and owns mineral and royalty interests across oil and natural gas properties throughout the United States. Rather than operating wells directly, it collects royalties from producers who do.
Kimbell generates revenue by holding mineral and royalty interests — meaning it receives a share of production revenue from oil and gas wells without bearing the direct costs of drilling or operations. Its interests span roughly 28 states and include a significant footprint in the Permian Basin. This asset-light model means cash flows are tied to commodity production volumes and prices rather than capital-intensive operations, giving the partnership a distinctive position within the energy sector.
The partnership was founded in 2013 and is headquartered in Fort Worth, Texas.
- Mineral royalty interests in oil and natural gas properties
- Overriding royalty interests across multiple U.S. basins
- Permian Basin royalty exposure across thousands of gross wells
- Diversified acreage across 28 U.S. states
Is KRP a Good Stock to Buy?
UQS Score rates KRP as Good overall, reflecting a balanced profile with some notable strengths and one area of concern.
The Quality and Risk pillars both register as Good, suggesting the partnership maintains a reasonably sound financial foundation and manageable risk characteristics relative to its sector peers. The Valuation pillar also reads as Good, indicating the units are not obviously expensive compared to fundamentals.
The Moat pillar is rated Weak — a meaningful flag for a royalty partnership, where the durability of its competitive position and the uniqueness of its asset base matter for long-term holders.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does KRP pay dividends?
Yes — Kimbell Royalty Partners, LP pays a dividend.
Kimbell Royalty Partners pays a regular distribution to unitholders, consistent with the master limited partnership structure designed to pass through cash flows. Because royalty income fluctuates with commodity prices and production volumes, distribution levels can vary quarter to quarter. Income-focused investors in the energy royalty space often look to KRP for this yield component, though variability is an inherent feature of the model.
When does KRP report earnings?
Kimbell Royalty Partners reports financial results on a quarterly cadence, typical for U.S.-listed partnerships.
Quarterly results tend to reflect movements in oil and natural gas prices alongside changes in production volumes across the partnership's broad acreage position. Because KRP does not operate wells, its reported figures are closely tied to royalty receipts rather than operational execution.
For the most recent quarter's results and distribution announcements, visit Kimbell Royalty Partners' investor relations page directly.
KRP Price History
+91.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Kimbell Royalty Partners, LP?
Based on Kimbell Royalty Partners, LP's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
KRP Long-term Outlook
The Growth pillar sits at Neutral, suggesting the partnership's expansion trajectory is neither accelerating sharply nor declining — a reasonable expectation for a royalty aggregator dependent on commodity cycles and acquisition activity. The Good Risk rating implies the balance sheet and cash flow structure are relatively stable, which supports the distribution model. However, the Weak Moat rating is a reminder that royalty interests can face competitive pressure when acquiring new acreage, and commodity price swings remain an ever-present variable.
Growth drivers
- Continued acquisition of mineral and royalty interests across U.S. basins
- Rising production activity in the Permian Basin from operator partners
- Commodity price tailwinds benefiting royalty revenue without direct cost exposure
Key risks
- Commodity price volatility directly impacting royalty income and distributions
- Competitive acquisition market limiting accretive deal flow
- Valuation sensitivity to energy sector sentiment and interest rate movements
KRP vs Peers
Kimbell Royalty Partners operates in a niche corner of the energy sector, but several energy-focused companies offer a useful point of comparison for investors evaluating royalty and production models.
Meren Energy operates within the Canadian energy space, offering a different regulatory and commodity-market context compared to KRP's U.S.-focused royalty model.
Advantage Energy is a Canadian natural gas producer with direct operational exposure, contrasting with KRP's asset-light royalty structure.
Birchcliff is a Canadian oil and gas producer focused on the Peace River Arch, representing an operator-driven model rather than a passive royalty approach.
Frequently Asked Questions
What does Kimbell Royalty Partners do?
Kimbell Royalty Partners acquires and owns mineral and royalty interests in oil and natural gas properties across the United States. It does not drill or operate wells — instead, it collects royalty payments from the producers who do, spanning interests across roughly 28 states and over 120,000 gross wells.
Does KRP pay dividends?
Yes, Kimbell Royalty Partners pays regular distributions to unitholders as a master limited partnership. The distribution amount can vary depending on commodity prices and production volumes from the wells underlying its royalty interests. Investors should review the latest distribution announcements on the company's investor relations page.
When does KRP report earnings?
KRP reports financial results on a quarterly cadence, consistent with U.S.-listed partnerships. For exact dates of upcoming earnings releases and distribution announcements, check Kimbell Royalty Partners' investor relations page.
Is KRP a good stock to buy?
UQS Score rates KRP as Good overall. The Quality, Risk, and Valuation pillars are all rated Good, while the Moat pillar is rated Weak. Whether it suits your portfolio depends on your income goals, commodity outlook, and risk tolerance. The full pillar breakdown is available to UQS Pro members.
Is KRP overvalued?
The UQS Valuation pillar for KRP is rated Good, suggesting the units are not trading at an obviously stretched premium relative to fundamentals. Royalty partnerships are often valued on yield and cash flow metrics, which can shift meaningfully with commodity prices. View the complete valuation analysis with a Pro account.
How does KRP compare to its competitors?
KRP's asset-light royalty model sets it apart from direct operators like Advantage Energy and Birchcliff Energy, which bear full drilling and production costs. Royalty structures typically offer lower operational risk but are still exposed to commodity price swings. The UQS platform scores each company across the same five pillars for a consistent comparison.
What is KRP's market cap bracket?
Kimbell Royalty Partners is classified as a small-cap partnership. This places it in a segment of the market that can offer growth potential through acquisitions but may also carry higher liquidity risk and greater sensitivity to commodity cycles than larger energy peers.
Who founded Kimbell Royalty Partners?
Kimbell Royalty Partners was founded in 2013 and is headquartered in Fort Worth, Texas. Further details on the founding team and management history are publicly available through the company's official filings and investor relations materials.
Is KRP a long-term quality investment?
From a quality indicator standpoint, KRP's Good UQS Score reflects reasonable fundamentals and manageable risk. However, the Weak Moat rating is a consideration for long-term holders, as it suggests the partnership's competitive position in acquiring royalty assets may face pressure over time. Pro members can access the full long-term quality breakdown.
What is the main competitive advantage of Kimbell Royalty Partners?
KRP's primary structural advantage is its asset-light royalty model — it receives income from oil and gas production without bearing drilling or operating costs. Its broad diversification across 28 states and multiple basins also reduces concentration risk. However, the UQS Moat pillar rates this competitive position as Weak relative to sector peers.
What sector does KRP belong to?
Kimbell Royalty Partners operates in the Energy sector, specifically within the oil and gas royalty and mineral rights niche. This sub-segment differs from traditional exploration and production companies because KRP does not operate wells — it earns passive royalty income from producers across its acreage.
Unlock Full KRP Analysis
Sign in to unlock the detailed analysis behind the UQS Score.
- ✓View the exact UQS pillar scores for KRP
- ✓Access full financial metrics and trend data
- ✓Compare KRP against energy sector peers
- ✓See the complete Quality and Moat breakdown
- ✓Track valuation changes over time
- ✓Get the full analyst-style view in one place
Pro Analysis
KRP — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 55.0 | 69.9 | 20.0 | 51.9 | 67.5 | 79.9 | +5.4 |
| May 7, 2026 | 49.6 | 59.0 | 20.0 | 43.9 | 63.9 | 76.9 | +0.1 |
| May 5, 2026 | 49.5 | 59.0 | 20.0 | 43.9 | 63.9 | 76.0 | +0.1 |
| May 3, 2026 | 49.4 | 59.0 | 20.0 | 43.6 | 63.9 | 75.7 | -0.1 |
| Apr 26, 2026 | 49.5 | 59.0 | 20.0 | 43.6 | 63.9 | 76.5 | +0.3 |
| Apr 22, 2026 | 49.2 | 59.0 | 20.0 | 41.7 | 63.9 | 77.1 | -4.1 |
| Apr 19, 2026 | 53.3 | 69.4 | 20.0 | 49.1 | 63.9 | 77.1 | +0.1 |
| Apr 18, 2026 | 53.2 | 69.3 | 20.0 | 49.1 | 63.9 | 76.8 | -0.7 |
| Apr 15, 2026 | 53.9 | 69.3 | 20.0 | 49.1 | 63.9 | 81.3 | +0.3 |
| Apr 12, 2026 | 53.6 | 69.3 | 20.0 | 47.8 | 63.9 | 80.7 | +0.1 |
KRP — Pillar Breakdown
Quality
— 69.9/100 (25%)Kimbell Royalty Partners, LP shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 51.9/100 (20%)Kimbell Royalty Partners, LP shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 67.5/100 (15%)Kimbell Royalty Partners, LP maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 80.1/100 (15%)Kimbell Royalty Partners, LP appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 20/100 (25%)Kimbell Royalty Partners, LP operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for KRP.
Score Composition
Financial Data
More Stock Analysis
How is the KRP UQS Score Calculated?
The UQS (Unified Quality Score) for Kimbell Royalty Partners, LP is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Kimbell Royalty Partners, LP's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Kimbell Royalty Partners, LP is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.