Viper Energy Partners LP (NASDAQ:VNOM) – Equities researchers at SunTrust Banks dropped their FY2018 EPS estimates for shares of Viper Energy Partners in a note issued to investors on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings of $1.30 per share for the year, down from their previous estimate of $1.48. SunTrust Banks currently has a “Buy” rating and a $32.00 price target on the stock. SunTrust Banks also issued estimates for Viper Energy Partners’ FY2019 earnings at $1.69 EPS and FY2020 earnings at $1.98 EPS.
Other research analysts have also recently issued reports about the stock. Deutsche Bank began coverage on shares of Viper Energy Partners in a research report on Thursday, February 1st. They issued a “buy” rating and a $27.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of Viper Energy Partners in a research report on Monday, December 11th. They set an “outperform” rating and a $25.00 price target on the stock. Northland Securities reiterated a “buy” rating and set a $29.00 price target on shares of Viper Energy Partners in a research report on Thursday. ValuEngine upgraded shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Mizuho set a $29.00 price target on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $25.64.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas producer reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The company had revenue of $59.20 million for the quarter, compared to analysts’ expectations of $51.28 million. Viper Energy Partners had a net margin of 64.80% and a return on equity of 13.92%. Viper Energy Partners’s revenue for the quarter was up 112.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 19th will be issued a $0.46 dividend. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, February 15th. This represents a $1.84 annualized dividend and a dividend yield of 8.08%. Viper Energy Partners’s dividend payout ratio (DPR) is currently 127.36%.
Several institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Viper Energy Partners in the third quarter worth $106,000. Thompson Davis & CO. Inc. lifted its stake in Viper Energy Partners by 940.0% in the fourth quarter. Thompson Davis & CO. Inc. now owns 5,200 shares of the oil and gas producer’s stock worth $121,000 after acquiring an additional 4,700 shares during the period. Investment House LLC purchased a new stake in Viper Energy Partners in the fourth quarter worth $223,000. Virtu KCG Holdings LLC lifted its stake in Viper Energy Partners by 77.4% in the second quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock worth $301,000 after acquiring an additional 8,357 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Viper Energy Partners by 9.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock worth $310,000 after acquiring an additional 1,726 shares during the period. Hedge funds and other institutional investors own 26.95% of the company’s stock.
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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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