Zacks Investment Research lowered shares of Viper Energy Partners LP (NASDAQ:VNOM) from a buy rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties primarily in North America. It focuses on developing mineral interests in the Permian Basin in West Texas. Viper Energy Partners LP is based in Midland, Texas. “
VNOM has been the topic of several other research reports. Northland Securities set a $24.00 price objective on shares of Viper Energy Partners and gave the company a buy rating in a report on Monday. Citigroup Inc. upped their price objective on Viper Energy Partners from $20.00 to $22.00 and gave the stock a buy rating in a research report on Monday, October 30th. Barclays PLC set a $21.00 target price on Viper Energy Partners and gave the stock a buy rating in a research note on Thursday, October 26th. Imperial Capital reaffirmed an in-line rating and set a $23.00 target price (up from $21.00) on shares of Viper Energy Partners in a research note on Wednesday, October 4th. Finally, UBS AG initiated coverage on Viper Energy Partners in a research note on Monday, October 2nd. They set a neutral rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $21.45.
Shares of Viper Energy Partners (NASDAQ VNOM) traded up $0.45 during midday trading on Tuesday, hitting $19.41. 130,479 shares of the stock were exchanged, compared to its average volume of 233,466. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.92 and a current ratio of 8.92. The stock has a market cap of $2,160.00, a P/E ratio of 21.83, a PEG ratio of 1.33 and a beta of 1.01. Viper Energy Partners has a 12-month low of $14.76 and a 12-month high of $20.81.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $42.21 million for the quarter, compared to analysts’ expectations of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The firm’s revenue was up 111.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. equities research analysts forecast that Viper Energy Partners will post 0.97 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were given a dividend of $0.337 per share. This represents a $1.35 dividend on an annualized basis and a yield of 6.94%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, November 6th. Viper Energy Partners’s payout ratio is presently 155.17%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in Viper Energy Partners during the first quarter worth about $20,725,000. Freestone Capital Holdings LLC purchased a new position in Viper Energy Partners in the second quarter valued at about $1,510,000. CI Global Investments Inc. boosted its holdings in Viper Energy Partners by 6.0% in the second quarter. CI Global Investments Inc. now owns 1,934,200 shares of the oil and gas producer’s stock valued at $30,367,000 after purchasing an additional 108,705 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Viper Energy Partners in the second quarter valued at about $1,664,000. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in Viper Energy Partners by 54.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock valued at $15,069,000 after purchasing an additional 338,500 shares during the last quarter. 17.96% of the stock is owned by institutional investors.
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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