Viper Energy Partners (NASDAQ:VNOM) had its price target boosted by Credit Suisse Group from $39.00 to $42.00 in a report released on Tuesday morning. The brokerage currently has an outperform rating on the oil and gas producer’s stock.
Other equities analysts have also recently issued research reports about the stock. TD Securities set a $39.00 price target on shares of Viper Energy Partners and gave the company a buy rating in a research report on Wednesday, August 1st. BidaskClub raised shares of Viper Energy Partners from a hold rating to a buy rating in a research report on Tuesday, July 31st. Citigroup raised shares of Viper Energy Partners from a neutral rating to a buy rating and raised their price target for the company from $36.00 to $42.00 in a research report on Monday, August 20th. Stifel Nicolaus raised shares of Viper Energy Partners from a hold rating to a buy rating and raised their price target for the company from $38.00 to $42.00 in a research report on Thursday, August 16th. Finally, Northland Securities set a $45.00 price target on shares of Viper Energy Partners and gave the company a buy rating in a research report on Thursday, August 16th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $40.29.
Shares of VNOM stock traded down $0.48 on Tuesday, reaching $33.26. 3,289 shares of the company were exchanged, compared to its average volume of 725,471. The stock has a market capitalization of $4.39 billion, a PE ratio of 31.04 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 23.74 and a quick ratio of 23.74. Viper Energy Partners has a one year low of $18.36 and a one year high of $44.00.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Monday, October 29th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.36). The company had revenue of $78.60 million for the quarter, compared to the consensus estimate of $78.65 million. Viper Energy Partners had a return on equity of 11.98% and a net margin of 67.73%. Viper Energy Partners’s revenue for the quarter was up 84.8% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. On average, analysts anticipate that Viper Energy Partners will post 1.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, November 12th will be paid a $0.58 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.32 annualized dividend and a yield of 6.98%. Viper Energy Partners’s dividend payout ratio (DPR) is 224.30%.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 14,800 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $38.71, for a total value of $572,908.00. Following the completion of the sale, the president now owns 72,473 shares in the company, valued at approximately $2,805,429.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.
A number of large investors have recently bought and sold shares of VNOM. California Public Employees Retirement System purchased a new stake in Viper Energy Partners in the 1st quarter valued at about $448,000. Russell Investments Group Ltd. purchased a new stake in shares of Viper Energy Partners during the 1st quarter worth approximately $1,917,000. Guggenheim Capital LLC increased its stake in shares of Viper Energy Partners by 10.2% during the 1st quarter. Guggenheim Capital LLC now owns 134,028 shares of the oil and gas producer’s stock worth $3,405,000 after purchasing an additional 12,440 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Viper Energy Partners during the 1st quarter worth approximately $551,000. Finally, Spirit of America Management Corp NY increased its stake in shares of Viper Energy Partners by 40.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 307,899 shares of the oil and gas producer’s stock worth $9,825,000 after purchasing an additional 89,279 shares during the last quarter. Hedge funds and other institutional investors own 24.89% of the company’s stock.
Viper Energy Partners Company Profile
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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