Zacks: Brokerages Anticipate Viper Energy Partners LP (VNOM) to Post $0.21 EPS
Wall Street analysts expect Viper Energy Partners LP (NASDAQ:VNOM) to report $0.21 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Viper Energy Partners’ earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.25. Viper Energy Partners reported earnings of $0.12 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 75%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Viper Energy Partners will report full year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.78 to $1.01. For the next financial year, analysts anticipate that the company will post earnings of $1.11 per share, with EPS estimates ranging from $0.81 to $1.51. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Viper Energy Partners.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $36.62 million during the quarter, compared to analysts’ expectations of $35.79 million. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Northland Securities set a $24.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Thursday. Scotiabank upgraded shares of Viper Energy Partners from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Tuesday, July 25th. Finally, Barclays PLC dropped their price objective on shares of Viper Energy Partners from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.45.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t bought 3,080 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was bought at an average cost of $14.75 per share, with a total value of $45,430.00. Following the completion of the transaction, the president now directly owns 3,080 shares of the company’s stock, valued at approximately $45,430. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Diamondback Energy, Inc. bought 700,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was acquired at an average cost of $14.38 per share, with a total value of $10,066,000.00. Following the completion of the transaction, the director now directly owns 73,150,000 shares of the company’s stock, valued at $1,051,897,000. The disclosure for this purchase can be found here. Insiders acquired 772,163 shares of company stock valued at $11,186,089 over the last three months.
A number of hedge funds have recently bought and sold shares of the company. PEAK6 Investments L.P. acquired a new stake in Viper Energy Partners during the first quarter valued at approximately $196,000. Envestnet Asset Management Inc. acquired a new stake in Viper Energy Partners during the first quarter valued at approximately $121,000. FMR LLC acquired a new stake in Viper Energy Partners during the first quarter valued at approximately $20,725,000. First Trust Advisors LP increased its stake in 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 valued at $6,855,000 after buying an additional 17,415 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Viper Energy Partners by 83.9% in the first quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock valued at $1,728,000 after buying an additional 43,852 shares in the last quarter. 17.35% of the stock is owned by institutional investors.
Viper Energy Partners (VNOM) traded up 0.74% during mid-day trading on Monday, reaching $17.64. 99,745 shares of the company’s stock traded hands. The company has a 50-day moving average of $16.06 and a 200-day moving average of $17.10. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 23.33 and a beta of 0.96. Viper Energy Partners has a 52-week low of $13.53 and a 52-week high of $19.38.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a $0.332 dividend. This represents a $1.33 annualized dividend and a yield of 7.53%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, August 15th. Viper Energy Partners’s payout ratio is currently 159.21%.
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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