Viper Energy Partners LP (NASDAQ:VNOM) dropped 6.2% during trading on Thursday . The company traded as low as $33.42 and last traded at $33.74. Approximately 1,177,219 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 660,391 shares. The stock had previously closed at $35.96.
VNOM has been the subject of a number of recent research reports. TD Securities set a $39.00 target price on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Wednesday, August 1st. BidaskClub upgraded shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Citigroup upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a research report on Monday, August 20th. Stifel Nicolaus upgraded shares of Viper Energy Partners from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $42.00 in a research report on Thursday, August 16th. Finally, Northland Securities set a $45.00 price objective on shares of Viper Energy Partners and gave the stock a “buy” rating in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Viper Energy Partners currently has a consensus rating of “Buy” and an average target price of $40.29.
The stock has a market capitalization of $4.39 billion, a PE ratio of 30.39 and a beta of 1.01. The company has a current ratio of 23.74, a quick ratio of 23.74 and a debt-to-equity ratio of 0.36.
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 Thomson Reuters’ consensus estimate of $0.41 by ($0.36). Viper Energy Partners had a return on equity of 11.98% and a net margin of 67.73%. The firm had revenue of $78.60 million for the quarter, compared to analyst estimates of $78.65 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. Viper Energy Partners’s revenue for the quarter was up 84.8% on a year-over-year basis. As a group, research analysts forecast that Viper Energy Partners LP will post 1.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 12th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 7.13%. The ex-dividend date is Thursday, November 8th. Viper Energy Partners’s payout ratio is currently 224.30%.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 7,615 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $38.58, for a total transaction of $293,786.70. Following the completion of the transaction, the president now owns 64,873 shares of the company’s stock, valued at $2,502,800.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VNOM. California Public Employees Retirement System purchased a new position in Viper Energy Partners during the first quarter worth about $448,000. Russell Investments Group Ltd. purchased a new position in Viper Energy Partners during the first quarter worth about $1,917,000. Guggenheim Capital LLC boosted its stake in Viper Energy Partners by 10.2% during the first quarter. Guggenheim Capital LLC now owns 134,028 shares of the oil and gas producer’s stock worth $3,405,000 after buying an additional 12,440 shares during the period. Millennium Management LLC purchased a new position in Viper Energy Partners during the first quarter worth about $551,000. Finally, Spirit of America Management Corp NY boosted its stake in Viper Energy Partners by 40.8% during the second 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 buying an additional 89,279 shares during the period. 24.89% of the stock is owned by institutional investors.
Viper Energy Partners Company Profile (NASDAQ:VNOM)
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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