Viper Energy Partners LP (VNOM) Receives Consensus Rating of “Buy” from Analysts
Shares of Viper Energy Partners LP (NASDAQ:VNOM) have earned an average recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.44.
Several research firms recently weighed in on VNOM. Citigroup Inc. began coverage on Viper Energy Partners in a research report on Friday, March 31st. They set a “buy” rating and a $20.00 price target on the stock. Piper Jaffray Companies began coverage on Viper Energy Partners in a research report on Saturday, May 27th. They set a “buy” rating and a $22.00 price target on the stock. TheStreet raised Viper Energy Partners from a “c” rating to a “b-” rating in a research report on Monday, April 17th. Credit Suisse Group reissued an “outperform” rating and set a $22.00 price target on shares of Viper Energy Partners in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Viper Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 26th.
In other news, Director Michael L. Hollis bought 2,840 shares of the stock in a transaction on Tuesday, March 21st. The shares were purchased at an average price of $17.60 per share, for a total transaction of $49,984.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Hollis bought 1,389 shares of the stock in a transaction on Friday, May 5th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $25,002.00. The disclosure for this purchase can be found here. Insiders acquired 22,474 shares of company stock worth $399,785 in the last 90 days.
A number of hedge funds and other institutional investors have recently modified their holdings of VNOM. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Viper Energy Partners during the fourth quarter worth approximately $271,000. A.R.T. Advisors LLC purchased a new position in shares of Viper Energy Partners during the fourth quarter worth approximately $193,000. Lebenthal Asset Management LLC increased its position in shares of Viper Energy Partners by 13.1% in the fourth quarter. Lebenthal Asset Management LLC now owns 75,488 shares of the oil and gas producer’s stock worth $1,208,000 after buying an additional 8,742 shares during the period. WFG Advisors LP purchased a new position in shares of Viper Energy Partners during the fourth quarter worth approximately $526,000. Finally, Malaga Cove Capital LLC purchased a new position in shares of Viper Energy Partners during the first quarter worth approximately $559,000. Hedge funds and other institutional investors own 20.52% of the company’s stock.
Shares of Viper Energy Partners (NASDAQ VNOM) traded down 1.35% during midday trading on Monday, hitting $16.08. The company had a trading volume of 64,969 shares. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 42.20 and a beta of 0.92. The stock’s 50-day moving average price is $17.34 and its 200-day moving average price is $17.13. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.60.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $33.65 million for the quarter, compared to analyst estimates of $29.06 million. Viper Energy Partners had a return on equity of 9.84% and a net margin of 33.56%. On average, equities research analysts forecast that Viper Energy Partners will post $0.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th were paid a $0.302 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $1.21 dividend on an annualized basis and a yield of 7.51%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.26. Viper Energy Partners’s payout ratio is 345.72%.
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About Viper Energy Partners
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.
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