Viper Energy Partners’ (VNOM) Buy Rating Reaffirmed at Piper Jaffray

Piper Jaffray restated their buy rating on shares of Viper Energy Partners (NASDAQ:VNOM) in a research report sent to investors on Wednesday. The firm currently has a $33.00 target price on the oil and gas producer’s stock.

A number of other equities research analysts also recently weighed in on the company. SunTrust Banks set a $35.00 target price on Viper Energy Partners and gave the stock a buy rating in a research report on Monday. BidaskClub upgraded Viper Energy Partners from a buy rating to a strong-buy rating in a research report on Thursday, April 12th. Imperial Capital set a $30.00 price objective on Viper Energy Partners and gave the company a buy rating in a research report on Monday, April 2nd. Citigroup increased their price objective on Viper Energy Partners from $22.00 to $24.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Northland Securities reiterated a buy rating and set a $29.00 price objective on shares of Viper Energy Partners in a research report on Thursday, February 8th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $27.46.

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VNOM opened at $28.90 on Wednesday. The company has a market capitalization of $3,292.33, a price-to-earnings ratio of 27.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 9.86 and a quick ratio of 9.86. Viper Energy Partners has a 1-year low of $14.76 and a 1-year high of $29.82.

Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, February 6th. The oil and gas producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $59.20 million during the quarter, compared to the consensus estimate of $51.28 million. Viper Energy Partners had a return on equity of 13.92% and a net margin of 64.80%. The firm’s revenue for the quarter was up 112.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. analysts predict that Viper Energy Partners will post 1.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 20th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend is Thursday, April 19th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.46. Viper Energy Partners’s dividend payout ratio is 171.96%.

Several large investors have recently made changes to their positions in the company. Cushing Asset Management LP acquired a new stake in shares of Viper Energy Partners during the 4th quarter valued at $373,000. Wolverine Trading LLC acquired a new stake in Viper Energy Partners during the 4th quarter valued at $415,000. Goldman Sachs Group Inc. raised its stake in Viper Energy Partners by 3.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,954,771 shares of the oil and gas producer’s stock valued at $92,265,000 after purchasing an additional 121,683 shares during the period. Guggenheim Capital LLC raised its stake in Viper Energy Partners by 30.8% during the 4th quarter. Guggenheim Capital LLC now owns 121,588 shares of the oil and gas producer’s stock valued at $2,837,000 after purchasing an additional 28,617 shares during the period. Finally, Deutsche Bank AG raised its stake in Viper Energy Partners by 135.4% during the 4th quarter. Deutsche Bank AG now owns 374,922 shares of the oil and gas producer’s stock valued at $8,746,000 after purchasing an additional 215,622 shares during the period. Institutional investors own 26.90% of the company’s stock.

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Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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