Northland Securities set a $24.00 price objective on Viper Energy Partners LP (NASDAQ:VNOM) in a report released on Monday morning. The firm currently has a buy rating on the oil and gas producer’s stock.
Other equities research analysts also recently issued reports about the company. TheStreet upgraded Viper Energy Partners from a c+ rating to a b- rating in a research report on Monday, August 14th. Barclays PLC set a $20.00 price objective on Viper Energy Partners and gave the stock a buy rating in a research note on Monday, October 16th. Stifel Nicolaus set a $20.00 price objective on Viper Energy Partners and gave the stock a buy rating in a research note on Wednesday, August 2nd. Mizuho raised Viper Energy Partners from a neutral rating to a buy rating in a research note on Wednesday, August 23rd. Finally, Citigroup Inc. upped their target price on Viper Energy Partners from $20.00 to $22.00 and gave the company a buy rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $21.45.
Shares of Viper Energy Partners (NASDAQ VNOM) traded up $0.14 during trading on Monday, hitting $19.10. The stock had a trading volume of 51,761 shares, compared to its average volume of 176,946. Viper Energy Partners has a fifty-two week low of $14.76 and a fifty-two week high of $20.81. The stock has a market capitalization of $2,180.00, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. 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 data on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The business had revenue of $42.21 million for the quarter, compared to the consensus estimate of $40.88 million. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s revenue was up 111.2% on a year-over-year basis. analysts forecast that Viper Energy Partners will post 0.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.337 per share. This represents a $1.35 annualized dividend and a dividend yield of 7.06%. The ex-dividend date was Monday, November 6th. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.33. Viper Energy Partners’s dividend payout ratio is currently 155.17%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Scholtz & Company LLC lifted its holdings in shares of Viper Energy Partners by 0.9% during the 2nd quarter. Scholtz & Company LLC now owns 69,345 shares of the oil and gas producer’s stock valued at $1,089,000 after purchasing an additional 625 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Viper Energy Partners by 9.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock valued at $310,000 after acquiring an additional 1,726 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Viper Energy Partners in the 3rd quarter valued at $106,000. Virtu KCG Holdings LLC increased its position in shares of Viper Energy Partners by 77.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after acquiring an additional 8,357 shares during the period. Finally, Creative Planning increased its position in shares of Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after acquiring an additional 12,155 shares during the period. Hedge funds and other institutional investors own 17.96% of the company’s stock.
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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