Viper Energy Partners LP (NASDAQ:VNOM) declared a quarterly dividend on Monday, October 29th, NASDAQ reports. Stockholders of record on Monday, November 12th will be given a dividend of 0.58 per share by the oil and gas producer on Monday, November 19th. This represents a $2.32 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Thursday, November 8th.
Viper Energy Partners has increased its dividend payment by an average of 70.0% per year over the last three years. Viper Energy Partners has a dividend payout ratio of 142.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Viper Energy Partners to earn $1.96 per share next year, which means the company may not be able to cover its $2.32 annual dividend with an expected future payout ratio of 118.4%.
VNOM opened at $33.94 on Wednesday. The stock has a market capitalization of $4.02 billion, a PE ratio of 31.72 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 13.32 and a quick ratio of 13.32. Viper Energy Partners has a twelve month low of $18.36 and a twelve month 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 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.36). Viper Energy Partners had a net margin of 67.73% and a return on equity of 10.95%. The firm had revenue of $78.60 million during the quarter, compared to the consensus estimate of $78.65 million. During the same quarter last year, the business posted $0.24 earnings per share. Viper Energy Partners’s revenue was up 84.8% compared to the same quarter last year. On average, equities research analysts anticipate that Viper Energy Partners will post 1.49 EPS for the current fiscal year.
A number of research firms have recently commented on VNOM. Credit Suisse Group raised their price objective on shares of Viper Energy Partners from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, October 30th. Oppenheimer restated a “buy” rating on shares of Viper Energy Partners in a research report on Monday, October 29th. Ifs Securities began coverage on shares of Viper Energy Partners in a research report on Monday, October 29th. They issued a “strong-buy” rating for the company. BidaskClub lowered shares of Viper Energy Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research lowered shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $40.29.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 7,615 shares of Viper Energy Partners stock in a transaction that occurred 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 sale, the president now directly owns 64,873 shares in the company, valued at $2,502,800.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael L. Hollis bought 3,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $33.68 per share, with a total value of $101,040.00. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.
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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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