UBS upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a neutral rating to a buy rating in a report published on Tuesday morning, 99wallstreet.com reports. They currently have $27.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $19.00.
Other equities analysts have also recently issued reports about the company. TheStreet raised Viper Energy Partners from a c+ rating to a b- rating in a research note on Monday, August 14th. Stifel Nicolaus reissued a buy rating and set a $20.00 target price on shares of Viper Energy Partners in a research note on Sunday, September 10th. Northland Securities reissued a buy rating and set a $24.00 target price on shares of Viper Energy Partners in a research note on Tuesday, September 5th. Mizuho raised Viper Energy Partners from a neutral rating to a buy rating in a research note on Wednesday, August 23rd. Finally, Citigroup boosted 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. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $22.27.
Shares of Viper Energy Partners (NASDAQ VNOM) traded up $0.79 during trading on Tuesday, reaching $22.00. The company’s stock had a trading volume of 790,721 shares, compared to its average volume of 184,269. The company has a quick ratio of 8.92, a current ratio of 8.92 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2,415.44, a PE ratio of 24.10, a P/E/G ratio of 1.47 and a beta of 1.06. Viper Energy Partners has a 1-year low of $14.76 and a 1-year high of $22.66.
Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $42.21 million for the quarter, compared to analysts’ expectations of $40.88 million. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The business’s quarterly revenue was up 111.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. sell-side analysts forecast that Viper Energy Partners will post 0.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were given a dividend of $0.337 per share. The ex-dividend date was Monday, November 6th. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.33. This represents a $1.35 annualized dividend and a dividend yield of 6.13%. Viper Energy Partners’s payout ratio is currently 153.41%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new stake in shares of Viper Energy Partners during the third quarter valued at approximately $106,000. Creative Planning boosted its position in shares of Viper Energy Partners by 1,215.5% during the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after purchasing an additional 12,155 shares in the last quarter. Credit Suisse AG bought a new stake in shares of Viper Energy Partners during the first quarter valued at approximately $270,000. Renaissance Technologies LLC bought a new stake in shares of Viper Energy Partners during the first quarter valued at approximately $281,000. Finally, Virtu KCG Holdings LLC boosted its position in shares of Viper Energy Partners by 77.4% during the second quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after purchasing an additional 8,357 shares in the last quarter. Institutional investors own 27.14% of the company’s stock.
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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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