Stifel Nicolaus upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a hold rating to a buy rating in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have $42.00 price target on the oil and gas producer’s stock, up from their previous price target of $38.00.
A number of other equities research analysts have also issued reports on the company. SunTrust Banks boosted their target price on Viper Energy Partners to $45.00 and gave the stock a hold rating in a research report on Monday, August 6th. Citigroup boosted their target price on Viper Energy Partners from $29.00 to $36.00 and gave the stock a neutral rating in a research report on Tuesday, July 31st. Piper Jaffray Companies reaffirmed a buy rating and set a $33.00 target price on shares of Viper Energy Partners in a research report on Wednesday, April 18th. BidaskClub raised Viper Energy Partners from a buy rating to a strong-buy rating in a research report on Wednesday, May 23rd. Finally, TD Securities initiated coverage on Viper Energy Partners in a research report on Thursday, July 5th. They set a buy rating and a $38.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $35.00.
VNOM opened at $38.37 on Thursday. Viper Energy Partners has a one year low of $15.68 and a one year high of $39.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 23.74 and a current ratio of 23.74. The firm has a market capitalization of $4.22 billion, a PE ratio of 35.86 and a beta of 0.90.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.33. The company had revenue of $75.41 million for the quarter, compared to the consensus estimate of $70.06 million. Viper Energy Partners had a return on equity of 14.66% and a net margin of 88.05%. The company’s quarterly revenue was up 106.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. research analysts forecast that Viper Energy Partners will post 1.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Monday, August 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.25%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, August 10th. Viper Energy Partners’s payout ratio is presently 224.30%.
A number of large investors have recently bought and sold shares of VNOM. Geode Capital Management LLC raised its position in Viper Energy Partners by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 79,384 shares of the oil and gas producer’s stock valued at $1,852,000 after buying an additional 3,361 shares during the period. Wells Fargo & Company MN raised its position in Viper Energy Partners by 10.2% during the first quarter. Wells Fargo & Company MN now owns 603,921 shares of the oil and gas producer’s stock valued at $15,346,000 after buying an additional 55,829 shares during the period. Mark Sheptoff Financial Planning LLC raised its position in Viper Energy Partners by 259.5% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 7,550 shares of the oil and gas producer’s stock valued at $192,000 after buying an additional 5,450 shares during the period. Penserra Capital Management LLC acquired a new position in Viper Energy Partners during the first quarter valued at $3,868,000. Finally, JPMorgan Chase & Co. raised its position in Viper Energy Partners by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 805,486 shares of the oil and gas producer’s stock valued at $20,467,000 after buying an additional 17,591 shares during the period. 25.75% of the stock is currently owned by hedge funds and other institutional investors.
About Viper Energy Partners
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.
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