Viper Energy Partners LP (NASDAQ:VNOM) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Tuesday, November 7th will be given a dividend of 0.337 per share by the oil and gas producer on Tuesday, November 14th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date is Monday, November 6th. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.33.
Viper Energy Partners (NASDAQ VNOM) traded up $0.13 during mid-day trading on Friday, hitting $19.95. 107,900 shares of the stock were exchanged, compared to its average volume of 235,868. The company has a market capitalization of $2,257.14, a PE ratio of 22.52, a P/E/G ratio of 1.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.92 and a quick ratio of 8.92. Viper Energy Partners has a 52-week low of $14.27 and a 52-week high of $20.81.
Viper Energy Partners (NASDAQ:VNOM) last posted its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $42.21 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 111.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. sell-side analysts forecast that Viper Energy Partners will post 0.97 EPS for the current fiscal year.
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In other news, Director Michael L. Hollis bought 2,500 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $16.07 per share, with a total value of $40,175.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of research analysts have recently commented on VNOM shares. Mizuho raised shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a report on Wednesday, August 23rd. Barclays PLC set a $20.00 price objective on Viper Energy Partners and gave the company a “buy” rating in a research note on Monday, October 16th. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. UBS AG started coverage on Viper Energy Partners in a research note on Monday, October 2nd. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus set a $20.00 price objective on Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Viper Energy Partners presently has an average rating of “Buy” and an average target price of $21.45.
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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