Stock analysts at Piper Jaffray Companies started coverage on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a research note issued to investors on Saturday. The firm set a “buy” rating and a $22.00 price target on the oil and gas producer’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 25.71% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Scotiabank reiterated a “hold” rating and set a $20.00 price objective on shares of Viper Energy Partners in a report on Wednesday, February 15th. Zacks Investment Research raised shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. TheStreet raised shares of Viper Energy Partners from a “c” rating to a “b-” rating in a research report on Monday, April 17th. Citigroup Inc started coverage on shares of Viper Energy Partners in a research report on Friday, March 31st. They set a “buy” rating and a $20.00 target price on the stock. Finally, Raymond James Financial, Inc. raised shares of Viper Energy Partners from a “market perform” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, February 21st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $20.10.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

Shares of Viper Energy Partners (NASDAQ:VNOM) opened at 17.50 on Friday. The firm has a 50-day moving average of $17.70 and a 200-day moving average of $16.99. The stock has a market cap of $1.71 billion, a PE ratio of 45.93 and a beta of 0.85. Viper Energy Partners has a one year low of $13.53 and a one year high of $19.91.

Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and gas producer reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Viper Energy Partners had a negative net margin of 31.23% and a positive return on equity of 5.24%. The company had revenue of $33.65 million during the quarter, compared to analyst estimates of $29.06 million. On average, equities research analysts expect that Viper Energy Partners will post $0.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Thursday, May 18th were given a $0.302 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 6.90%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.26. Viper Energy Partners’s payout ratio is presently -286.21%.

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In other news, Director Steven E. West acquired 14,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average price of $17.83 per share, with a total value of $249,620.00. Following the transaction, the director now directly owns 14,000 shares in the company, valued at $249,620. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Hollis acquired 1,389 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $25,002.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 22,474 shares of company stock worth $399,785.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners increased its position in shares of Viper Energy Partners by 26.1% in the first quarter. Boston Partners now owns 2,004,294 shares of the oil and gas producer’s stock worth $36,037,000 after buying an additional 415,417 shares during the last quarter. First Trust Advisors LP increased its position in shares of Viper Energy Partners by 4.8% in the first quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock worth $6,855,000 after buying an additional 17,415 shares during the last quarter. ING Groep NV purchased a new position in shares of Viper Energy Partners during the first quarter worth about $4,497,000. Wells Fargo & Company MN increased its position in shares of Viper Energy Partners by 6,776.0% in the first quarter. Wells Fargo & Company MN now owns 585,077 shares of the oil and gas producer’s stock worth $10,520,000 after buying an additional 576,568 shares during the last quarter. Finally, Malaga Cove Capital LLC purchased a new position in shares of Viper Energy Partners during the first quarter worth about $559,000. 12.88% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Partners Company Profile

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.

12 Month Chart for NASDAQ:VNOM

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