Viper Energy Partners LP (NASDAQ:VNOM) – Analysts at Oppenheimer lowered their Q4 2018 earnings per share (EPS) estimates for shares of Viper Energy Partners in a note issued to investors on Tuesday, October 30th. Oppenheimer analyst T. Rezvan now anticipates that the oil and gas producer will earn $0.33 per share for the quarter, down from their previous estimate of $0.40. Oppenheimer has a “Buy” rating on the stock. Oppenheimer also issued estimates for Viper Energy Partners’ Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.43 EPS and FY2019 earnings at $1.56 EPS.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings results 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). The business had revenue of $78.60 million for the quarter, compared to the consensus estimate of $78.65 million. Viper Energy Partners had a net margin of 67.73% and a return on equity of 11.98%. Viper Energy Partners’s revenue was up 84.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS.
VNOM has been the subject of several other research reports. BidaskClub raised shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a research note 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 note on Monday, August 20th. Zacks Investment Research downgraded shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Credit Suisse Group raised their price target on shares of Viper Energy Partners from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, 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 note on Thursday, August 16th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $40.29.
VNOM stock opened at $32.44 on Thursday. The firm has a market cap of $4.39 billion, a PE ratio of 30.32 and a beta of 1.01. Viper Energy Partners has a 52-week low of $18.36 and a 52-week high of $44.00. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt-to-equity ratio of 0.36.
A number of large investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in Viper Energy Partners by 571.0% in the third quarter. Wells Fargo & Company MN now owns 1,226,697 shares of the oil and gas producer’s stock worth $51,644,000 after purchasing an additional 1,043,868 shares during the period. First National Trust Co acquired a new stake in Viper Energy Partners in the third quarter worth $278,000. Cim LLC acquired a new stake in Viper Energy Partners in the third quarter worth $257,000. Price Capital Management Inc. acquired a new stake in Viper Energy Partners in the third quarter worth $131,000. Finally, Sawtooth Solutions LLC acquired a new stake in Viper Energy Partners in the third quarter worth $250,000. Institutional investors and hedge funds own 24.89% of the company’s stock.
In related news, President Hof Matthew Kaes Van’t sold 7,615 shares of Viper Energy Partners stock in a transaction on 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 Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 12th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date of this dividend is Thursday, November 8th. Viper Energy Partners’s dividend payout ratio is presently 224.30%.
About Viper Energy Partners
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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