Viper Energy Partners LP (VNOM) Given “Hold” Rating at Scotiabank
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Viper Energy Partners from a hold rating to a buy rating and set a $18.00 price target for the company in a report on Tuesday, December 20th. Credit Suisse Group raised Viper Energy Partners from a neutral rating to an outperform rating and set a $21.00 price target for the company in a report on Tuesday, January 31st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Viper Energy Partners has a consensus rating of Buy and an average target price of $19.44.
Viper Energy Partners (NASDAQ:VNOM) traded down 0.28% during mid-day trading on Wednesday, reaching $17.83. 150,347 shares of the company’s stock were exchanged. The stock’s market cap is $1.57 billion. The stock has a 50-day moving average price of $16.66 and a 200-day moving average price of $16.16. Viper Energy Partners has a 52 week low of $13.53 and a 52 week high of $20.25.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Viper Energy Partners had a positive return on equity of 5.24% and a negative net margin of 31.23%. On average, analysts forecast that Viper Energy Partners will post $0.79 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 17th will be issued a $0.258 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 5.79%. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, February 15th. Viper Energy Partners’s payout ratio is currently -286.21%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Viper Energy Partners by 7.0% in the third quarter. Wells Fargo & Company MN now owns 7,693 shares of the company’s stock worth $124,000 after buying an additional 500 shares in the last quarter. Zacks Investment Management acquired a new position in Viper Energy Partners during the third quarter worth about $186,000. A.R.T. Advisors LLC acquired a new position in Viper Energy Partners during the fourth quarter worth about $193,000. Raymond James Financial Services Advisors Inc. acquired a new position in Viper Energy Partners during the fourth quarter worth about $271,000. Finally, Kayne Anderson Capital Advisors LP acquired a new position in Viper Energy Partners during the third quarter worth about $403,000. 12.88% of the stock is owned by institutional investors and hedge funds.
About Viper Energy Partners
Viper Energy Partners LP is a limited partnership that owns, acquires and exploits oil and natural gas properties in North America. The Company’s business objective is to provide an attractive return to its unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback Energy, Inc and from third parties.
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