$39.37 Million in Sales Expected for Viper Energy Partners LP (VNOM) This Quarter
Wall Street analysts expect Viper Energy Partners LP (NASDAQ:VNOM) to announce sales of $39.37 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Viper Energy Partners’ earnings, with the lowest sales estimate coming in at $36.50 million and the highest estimate coming in at $43.83 million. Viper Energy Partners reported sales of $20.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 96.9%. The company is expected to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Viper Energy Partners will report full-year sales of $39.37 million for the current financial year, with estimates ranging from $141.60 million to $163.69 million. For the next fiscal year, analysts anticipate that the company will report sales of $201.41 million per share, with estimates ranging from $157.00 million to $264.39 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Viper Energy Partners.
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, topping the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%.
Several research firms recently commented on VNOM. Barclays PLC reduced their price target on shares of Viper Energy Partners from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, July 13th. Northland Securities set a $22.00 price target on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Sunday, July 23rd. Piper Jaffray Companies began coverage on shares of Viper Energy Partners in a research report on Saturday, May 27th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research downgraded shares of Viper Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 price target on shares of Viper Energy Partners in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.55.
In other news, Director Michael L. Hollis acquired 2,917 shares of the company’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $17.71 per share, with a total value of $51,660.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Travis D. Stice acquired 30,811 shares of the company’s stock in a transaction on Friday, July 21st. The stock was purchased at an average cost of $14.75 per share, for a total transaction of $454,462.25. The disclosure for this purchase can be found here. Insiders acquired a total of 772,163 shares of company stock worth $11,186,089 over the last three months.
A number of institutional investors have recently made changes to their positions in the stock. Syntal Capital Partners LLC bought a new position in Viper Energy Partners during the second quarter worth $596,000. Kayne Anderson Capital Advisors LP boosted its position in Viper Energy Partners by 54.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock worth $15,069,000 after buying an additional 338,500 shares during the period. Malaga Cove Capital LLC boosted its position in Viper Energy Partners by 114.1% in the second quarter. Malaga Cove Capital LLC now owns 65,060 shares of the oil and gas producer’s stock worth $1,038,000 after buying an additional 34,672 shares during the period. Creative Planning boosted its position 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 during the period. Finally, Goldman Sachs Group Inc. boosted its position in Viper Energy Partners by 141.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,596,303 shares of the oil and gas producer’s stock worth $28,701,000 after buying an additional 934,700 shares during the period. 17.35% of the stock is currently owned by institutional investors.
Shares of Viper Energy Partners (NASDAQ VNOM) opened at 17.40 on Wednesday. The stock has a 50 day moving average of $16.14 and a 200-day moving average of $17.11. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 23.02 and a beta of 0.96. Viper Energy Partners has a 1-year low of $13.53 and a 1-year high of $19.38.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be paid a $0.332 dividend. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Tuesday, August 15th. Viper Energy Partners’s payout ratio is currently 159.21%.
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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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