Viper Energy Partners LP (NASDAQ:VNOM) had its price target cut by Piper Jaffray Companies from $22.00 to $20.00 in a research report sent to investors on Monday. They currently have an overweight rating on the oil and gas producer’s stock.

VNOM has been the topic of several other reports. Mizuho upgraded Viper Energy Partners from a neutral rating to a buy rating in a research report on Wednesday, August 23rd. Credit Suisse Group restated an outperform rating and issued a $22.00 price target on shares of Viper Energy Partners in a research report on Friday, June 2nd. Zacks Investment Research upgraded Viper Energy Partners from a sell rating to a hold rating in a research report on Friday, August 4th. Stifel Nicolaus set a $20.00 price target on Viper Energy Partners and gave the stock a buy rating in a research report on Wednesday, August 2nd. Finally, Northland Securities set a $21.00 price target on Viper Energy Partners and gave the stock a buy rating in a research report on Monday, July 17th. One 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 company’s stock. The stock has a consensus rating of Buy and an average price target of $20.42.

Shares of Viper Energy Partners (NASDAQ VNOM) opened at 17.37 on Monday. The stock’s 50 day moving average price is $17.03 and its 200-day moving average price is $17.07. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 22.98 and a beta of 0.96.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. The business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. On average, equities research analysts predict that Viper Energy Partners will post $0.91 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 17th were paid a dividend of $0.332 per share. This represents a $1.33 annualized dividend and a yield of 7.65%. 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 (DPR) is presently 175.00%.

In other Viper Energy Partners news, Director Diamondback Energy, Inc. acquired 700,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $14.38 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Hollis acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $16.07 per share, for a total transaction of $40,175.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 756,418 shares of company stock worth $10,901,466 in the last ninety days.

Institutional investors have recently modified their holdings of the stock. PEAK6 Investments L.P. acquired a new stake in Viper Energy Partners during the 1st quarter worth $196,000. FMR LLC acquired a new stake in shares of Viper Energy Partners in the 1st quarter valued at about $20,725,000. Envestnet Asset Management Inc. acquired a new stake in shares of Viper Energy Partners in the 1st quarter valued at about $121,000. Ameriprise Financial Inc. raised its stake in shares of Viper Energy Partners by 83.9% in the 1st quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock valued at $1,728,000 after purchasing an additional 43,852 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Viper Energy Partners by 4.8% in the 1st quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock valued at $6,855,000 after purchasing an additional 17,415 shares during the period. 15.59% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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