Viper Energy Partners LP (VNOM) Expected to Announce Quarterly Sales of $38.91 Million
Wall Street analysts expect Viper Energy Partners LP (NASDAQ:VNOM) to announce $38.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Viper Energy Partners’ earnings. The lowest sales estimate is $36.35 million and the highest is $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 94.6%. The business is scheduled to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Viper Energy Partners will report full year sales of $38.91 million for the current financial year, with estimates ranging from $144.10 million to $163.69 million. For the next year, analysts expect that the company will post sales of $204.39 million per share, with estimates ranging from $164.40 million to $264.39 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Viper Energy Partners.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $36.62 million for the quarter, compared to the consensus estimate of $35.79 million.
Several equities research analysts have recently commented on the stock. Imperial Capital assumed coverage on shares of Viper Energy Partners in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $21.00 target price on the stock. Stifel Nicolaus set a $20.00 target price on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC boosted their target price on shares of Viper Energy Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Mizuho upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Viper Energy Partners has a consensus rating of “Buy” and a consensus target price of $20.58.
In other Viper Energy Partners news, Director Diamondback Energy, Inc. acquired 700,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average cost of $14.38 per share, for a total transaction of $10,066,000.00. Following the transaction, the director now owns 73,150,000 shares of the company’s stock, valued at $1,051,897,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Hollis acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $16.07 per share, with a total value of $40,175.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 756,418 shares of company stock valued at $10,901,466.
Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new position in shares of Viper Energy Partners in the 1st quarter valued at approximately $121,000. PEAK6 Investments L.P. acquired a new position in shares of Viper Energy Partners in the 1st quarter valued at approximately $196,000. Creative Planning grew its position in shares of Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after purchasing an additional 12,155 shares during the period. Citadel Advisors LLC acquired a new position in shares of Viper Energy Partners in the 1st quarter valued at approximately $235,000. Finally, Credit Suisse AG acquired a new position in shares of Viper Energy Partners in the 1st quarter valued at approximately $270,000. Institutional investors and hedge funds own 15.69% of the company’s stock.
Shares of Viper Energy Partners (NASDAQ VNOM) opened at 17.24 on Friday. The firm has a market cap of $1.96 billion, a PE ratio of 22.80 and a beta of 0.96. The company has a 50 day moving average of $17.02 and a 200-day moving average of $17.10. Viper Energy Partners has a 12-month low of $13.53 and a 12-month high of $19.38.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th were paid a $0.332 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.70%. Viper Energy Partners’s dividend payout ratio is 175.00%.
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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