Viper Energy Partners LP (NASDAQ:VNOM) had its target price lowered by Piper Jaffray Companies from $22.00 to $20.00 in a research report report published on Monday morning. The brokerage currently has an overweight rating on the oil and gas producer’s stock.
VNOM has been the subject of a number of other research reports. Mizuho upgraded Viper Energy Partners from a neutral rating to a buy rating in a report on Wednesday, August 23rd. Credit Suisse Group reiterated an outperform rating and issued a $22.00 price target on shares of Viper Energy Partners in a report on Friday, June 2nd. Zacks Investment Research upgraded Viper Energy Partners from a sell rating to a hold rating in a report on Friday, August 4th. Stifel Nicolaus set a $20.00 price target on Viper Energy Partners and gave the company a buy rating in a report on Wednesday, August 2nd. Finally, Northland Securities set a $21.00 price target on Viper Energy Partners and gave the company a buy rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Viper Energy Partners has a consensus rating of Buy and an average price target of $20.42.
Viper Energy Partners (NASDAQ VNOM) opened at 17.91 on Monday. The stock has a 50 day moving average price of $17.05 and a 200 day moving average price of $17.07. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 23.69 and a beta of 0.96.
Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $36.62 million during the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. Analysts anticipate that Viper Energy Partners will post $0.91 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 17th were paid a $0.332 dividend. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 15th. This represents a $1.33 dividend on an annualized basis and a yield of 7.45%. Viper Energy Partners’s payout ratio is 175.00%.
In other Viper Energy Partners news, CEO Travis D. Stice acquired 30,811 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average price of $14.75 per share, with a total value of $454,462.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Hollis acquired 2,500 shares of Viper Energy Partners stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $16.07 per share, with a total value of $40,175.00. The disclosure for this purchase can be found here. Insiders purchased 756,418 shares of company stock valued at $10,901,466 in the last three months.
A number of large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its stake in Viper Energy Partners by 9.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock worth $310,000 after buying an additional 1,726 shares in the last quarter. Scholtz & Company LLC raised its stake in Viper Energy Partners by 0.9% in the second quarter. Scholtz & Company LLC now owns 69,345 shares of the oil and gas producer’s stock worth $1,089,000 after buying an additional 625 shares in the last quarter. Williams Jones & Associates LLC raised its stake in Viper Energy Partners by 74.3% in the second quarter. Williams Jones & Associates LLC now owns 236,075 shares of the oil and gas producer’s stock worth $3,706,000 after buying an additional 100,600 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in Viper Energy Partners by 77.4% in the second quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock worth $301,000 after buying an additional 8,357 shares in the last quarter. Finally, FMR LLC raised its stake in Viper Energy Partners by 26.2% in the second quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock worth $22,845,000 after buying an additional 302,400 shares in the last quarter. 15.59% of the stock is owned by institutional investors.
About Viper Energy Partners
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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