Viper Energy Partners LP (VNOM) Receives Average Rating of “Buy” from Brokerages

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Viper Energy Partners LP (NASDAQ:VNOM) has been assigned a consensus rating of “Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $39.36.

A number of research firms have issued reports on VNOM. Credit Suisse Group boosted their price objective on shares of Viper Energy Partners from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer restated a “buy” rating on shares of Viper Energy Partners in a research report on Monday. Ifs Securities began coverage on shares of Viper Energy Partners in a research report on Monday. They issued a “strong-buy” rating on the stock. BidaskClub cut shares of Viper Energy Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 28th.

NASDAQ:VNOM traded down $2.20 during trading hours on Thursday, reaching $33.76. The company’s stock had a trading volume of 65,996 shares, compared to its average volume of 725,471. The stock has a market cap of $4.39 billion, a PE ratio of 31.42 and a beta of 1.01. Viper Energy Partners has a 1 year low of $18.36 and a 1 year high of $44.00. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt-to-equity ratio of 0.36.

Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Monday, October 29th. The oil and gas producer reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.36). Viper Energy Partners had a return on equity of 11.98% and a net margin of 67.73%. The business had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter in the previous year, the business earned $0.24 EPS. Viper Energy Partners’s revenue for the quarter was up 84.8% compared to the same quarter last year. Sell-side analysts anticipate that Viper Energy Partners will post 1.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date is Thursday, November 8th. Viper Energy Partners’s payout ratio is 224.30%.

In other news, President Hof Matthew Kaes Van’t sold 7,615 shares of Viper Energy Partners stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $38.58, for a total transaction of $293,786.70. Following the sale, the president now owns 64,873 shares of the company’s stock, valued at approximately $2,502,800.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. First National Trust Co bought a new stake in shares of Viper Energy Partners during the 3rd quarter valued at about $278,000. Cim LLC bought a new stake in shares of Viper Energy Partners during the 3rd quarter valued at about $257,000. Price Capital Management Inc. bought a new stake in shares of Viper Energy Partners during the 3rd quarter valued at about $131,000. Sawtooth Solutions LLC bought a new stake in shares of Viper Energy Partners during the 3rd quarter valued at about $250,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Viper Energy Partners by 126.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,903 shares of the oil and gas producer’s stock valued at $1,637,000 after purchasing an additional 21,707 shares in the last quarter. 24.89% of the stock is currently owned by hedge funds and other institutional investors.

About Viper Energy Partners

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.

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Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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