Viper Energy Partners’ (VNOM) “Buy” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a report published on Sunday. Stifel Nicolaus currently has a $20.00 price objective on the oil and gas producer’s stock.
VNOM has been the topic of several other research reports. Mizuho raised shares of Viper Energy Partners from a neutral rating to a buy rating in a research note on Wednesday, August 23rd. Credit Suisse Group reissued an outperform rating and set a $22.00 price objective on shares of Viper Energy Partners in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Viper Energy Partners from a sell rating to a hold rating in a research note on Friday, August 4th. Scotiabank raised shares of Viper Energy Partners from a sector perform rating to an outperform rating and boosted their price objective for the stock from $20.00 to $22.00 in a research note on Tuesday, July 25th. Finally, Northland Securities set a $21.00 price objective on shares of Viper Energy Partners and gave the stock a buy rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $20.58.
Viper Energy Partners (VNOM) opened at 16.88 on Friday. The company has a market cap of $1.92 billion, a PE ratio of 22.33 and a beta of 0.96. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38. The company has a 50-day moving average of $16.95 and a 200 day moving average of $17.13.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, topping the 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 business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. On average, equities analysts forecast that Viper Energy Partners will post $0.91 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th were paid a $0.332 dividend. This represents a $1.33 annualized dividend and a dividend yield of 7.87%. The ex-dividend date of this dividend was Tuesday, August 15th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.30. Viper Energy Partners’s dividend payout ratio is currently 175.00%.
In other news, President Hof Matthew Kaes Van’t bought 3,080 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $14.75 per share, for a total transaction of $45,430.00. Following the completion of the purchase, the president now owns 3,080 shares in the company, valued at approximately $45,430. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Diamondback Energy, Inc. bought 700,000 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was purchased at an average price of $14.38 per share, for a total transaction of $10,066,000.00. Following the purchase, the director now owns 73,150,000 shares of the company’s stock, valued at approximately $1,051,897,000. The disclosure for this purchase can be found here. In the last quarter, insiders bought 756,418 shares of company stock worth $10,901,466.
Several hedge funds and other institutional investors have recently modified their holdings of VNOM. Envestnet Asset Management Inc. bought a new position in shares of Viper Energy Partners in the first quarter worth approximately $121,000. PEAK6 Investments L.P. bought a new position in shares of Viper Energy Partners in the first quarter worth approximately $196,000. Creative Planning lifted its stake in shares of Viper Energy Partners by 1,215.5% in the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after buying an additional 12,155 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Viper Energy Partners in the first quarter worth approximately $235,000. Finally, Credit Suisse AG bought a new position in shares of Viper Energy Partners in the first quarter worth approximately $270,000. Hedge funds and other institutional investors own 15.69% of the company’s stock.
Viper Energy Partners Company Profile
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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