Viper Energy Partners LP (NASDAQ:VNOM) Given Average Recommendation of “Buy” by Brokerages
Shares of Viper Energy Partners LP (NASDAQ:VNOM) have been assigned an average rating of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.80.
VNOM has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Viper Energy Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 26th. Credit Suisse Group reiterated an “outperform” rating and issued a $22.00 price objective on shares of Viper Energy Partners in a research note on Friday, June 2nd. TheStreet upgraded shares of Viper Energy Partners from a “c” rating to a “b-” rating in a research note on Monday, April 17th. Scotiabank reiterated a “hold” rating and issued a $20.00 price objective on shares of Viper Energy Partners in a research note on Friday, June 30th. Finally, BidaskClub upgraded shares of Viper Energy Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th.
Shares of Viper Energy Partners (NASDAQ VNOM) traded down 1.36% during midday trading on Tuesday, hitting $17.40. The company had a trading volume of 134,505 shares. Viper Energy Partners has a 12-month low of $13.53 and a 12-month high of $19.38. The company’s 50-day moving average price is $16.14 and its 200 day moving average price is $17.11. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 23.02 and a beta of 0.96.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The business had revenue of $36.62 million during the quarter, compared to analyst estimates of $35.79 million. Equities research analysts predict that Viper Energy Partners will post $0.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be issued a $0.332 dividend. This represents a $1.33 annualized dividend and a yield of 7.63%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, August 15th. Viper Energy Partners’s dividend payout ratio (DPR) is presently 159.21%.
In other news, Director Diamondback Energy, Inc. purchased 700,000 shares of the business’s stock in a transaction on Friday, July 21st. The stock was purchased at an average cost of $14.38 per share, with a total value of $10,066,000.00. Following the acquisition, the director now directly owns 73,150,000 shares in the company, valued at $1,051,897,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Hollis purchased 2,917 shares of the business’s stock in a transaction on Friday, May 12th. The stock was purchased at an average cost of $17.71 per share, with a total value of $51,660.07. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 772,163 shares of company stock valued at $11,186,089.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its stake in Viper Energy Partners by 6.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,045 shares of the oil and gas producer’s stock worth $324,000 after buying an additional 1,095 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Viper Energy Partners during the first quarter worth about $121,000. PEAK6 Investments L.P. bought a new stake in Viper Energy Partners during the first quarter worth about $196,000. Wexford Capital LP increased its stake in Viper Energy Partners by 2.1% in the first quarter. Wexford Capital LP now owns 527,976 shares of the oil and gas producer’s stock worth $9,493,000 after buying an additional 11,028 shares in the last quarter. Finally, Creative Planning increased its stake in Viper Energy Partners by 1,215.5% in the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after buying an additional 12,155 shares in the last quarter. 17.35% of the stock is owned by hedge funds and other institutional investors.
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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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