Viper Energy Partners LP (NASDAQ:VNOM) had its price target hoisted by Citigroup Inc. from $20.00 to $22.00 in a research note released on Monday, October 30th. The brokerage currently has a buy rating on the oil and gas producer’s stock.
Several other equities analysts have also recently commented on the stock. Northland Securities reissued a buy rating and issued a $24.00 price target on shares of Viper Energy Partners in a research report on Thursday, October 12th. BidaskClub raised shares of Viper Energy Partners from a strong sell rating to a sell rating in a research report on Tuesday, July 11th. Piper Jaffray Companies decreased their price objective on shares of Viper Energy Partners from $22.00 to $20.00 and set an overweight rating for the company in a research report on Monday, September 18th. Zacks Investment Research cut shares of Viper Energy Partners from a hold rating to a sell rating in a research report on Thursday, July 13th. Finally, UBS AG assumed coverage on shares of Viper Energy Partners in a research report on Monday, October 2nd. They set a neutral rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $21.45.
Viper Energy Partners (NASDAQ VNOM) opened at $19.21 on Monday. The firm has a market cap of $2,271.95, a PE ratio of 22.67, a P/E/G ratio of 1.38 and a beta of 1.01. Viper Energy Partners has a 12 month low of $14.76 and a 12 month high of $20.81. The company has a quick ratio of 8.92, a current ratio of 8.92 and a debt-to-equity ratio of 0.04.
Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $42.21 million during the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The business’s revenue was up 111.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 EPS. equities analysts anticipate that Viper Energy Partners will post 0.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were issued a dividend of $0.337 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.35 dividend on an annualized basis and a yield of 7.02%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.33. Viper Energy Partners’s payout ratio is currently 153.41%.
In other Viper Energy Partners news, Director Michael L. Hollis purchased 2,500 shares of Viper Energy Partners stock in a transaction on Friday, August 18th. The shares were bought at an average price of $16.07 per share, with a total value of $40,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new position in shares of Viper Energy Partners during the third quarter valued at approximately $106,000. Envestnet Asset Management Inc. purchased a new position in shares of Viper Energy Partners during the first quarter valued at approximately $121,000. Creative Planning lifted its stake in shares of Viper Energy Partners by 1,215.5% during the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after buying an additional 12,155 shares during the period. Citadel Advisors LLC purchased a new position in shares of Viper Energy Partners during the first quarter valued at approximately $235,000. Finally, Credit Suisse AG acquired a new position in Viper Energy Partners during the first quarter worth approximately $270,000. 17.96% of the stock is currently owned by institutional investors.
Viper Energy Partners Company Profile
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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