Viper Energy Partners LP (VNOM) Given a $24.00 Price Target at Northland Securities
Northland Securities set a $24.00 price objective on Viper Energy Partners LP (NASDAQ:VNOM) in a research report report published on Monday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock.
A number of other analysts also recently issued reports on the stock. Piper Jaffray Companies cut their price target on shares of Viper Energy Partners from $22.00 to $20.00 and set an overweight rating for the company in a report on Monday, September 18th. UBS AG started coverage on shares of Viper Energy Partners in a report on Monday, October 2nd. They set a neutral rating and a $18.00 price target for the company. Imperial Capital restated an in-line rating and set a $23.00 price target (up previously from $21.00) on shares of Viper Energy Partners in a report on Wednesday, October 4th. Barclays PLC set a $20.00 price target on shares of Viper Energy Partners and gave the stock a buy rating in a report on Monday, October 16th. Finally, TheStreet upgraded shares of Viper Energy Partners from a c+ rating to a b- rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Viper Energy Partners currently has an average rating of Buy and an average target price of $21.45.
Viper Energy Partners (NASDAQ:VNOM) traded down $0.13 on Monday, reaching $19.82. 82,600 shares of the company’s stock were exchanged, compared to its average volume of 235,168. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.92 and a quick ratio of 8.92. Viper Energy Partners has a twelve month low of $14.76 and a twelve month high of $20.81. The stock has a market cap of $2,271.95, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $42.21 million for the quarter, compared to analyst estimates of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The business’s revenue was up 111.2% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. sell-side analysts forecast that Viper Energy Partners will post 0.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be issued a $0.337 dividend. This represents a $1.35 annualized dividend and a yield of 6.80%. The ex-dividend date is Monday, November 6th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.33. Viper Energy Partners’s dividend payout ratio (DPR) is 153.41%.
In related news, Director Michael L. Hollis bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $16.07 per share, for a total transaction of $40,175.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Large investors have recently bought and sold shares of the business. FMR LLC acquired a new position in shares of Viper Energy Partners in the first quarter worth $20,725,000. Freestone Capital Holdings LLC purchased a new stake in shares of Viper Energy Partners during the 2nd quarter worth $1,510,000. CI Global Investments Inc. lifted its position in shares of Viper Energy Partners by 6.0% during the 2nd quarter. CI Global Investments Inc. now owns 1,934,200 shares of the oil and gas producer’s stock worth $30,367,000 after purchasing an additional 108,705 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Viper Energy Partners during the 2nd quarter worth $1,664,000. Finally, Kayne Anderson Capital Advisors LP lifted its position in shares of Viper Energy Partners by 54.5% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock worth $15,069,000 after purchasing an additional 338,500 shares during the last quarter. Institutional investors and hedge funds own 17.96% of the company’s stock.
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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