Viper Energy Partners (NASDAQ:VNOM) Upgraded at BidaskClub

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BidaskClub upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other brokerages have also weighed in on VNOM. Northland Securities restated a buy rating and set a $38.00 price objective on shares of Viper Energy Partners in a research note on Wednesday, May 1st. Barclays assumed coverage on Viper Energy Partners in a research note on Monday, May 13th. They set an overweight rating and a $44.00 price objective for the company. Stephens set a $46.00 price objective on Viper Energy Partners and gave the company a buy rating in a research note on Monday, May 20th. Royal Bank of Canada assumed coverage on Viper Energy Partners in a research note on Thursday, April 18th. They set an outperform rating and a $43.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on Viper Energy Partners from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Viper Energy Partners presently has an average rating of Buy and a consensus target price of $41.06.

Shares of NASDAQ:VNOM opened at $30.26 on Friday. The stock has a market cap of $4.27 billion, a P/E ratio of 28.02 and a beta of 1.35. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.10. Viper Energy Partners has a one year low of $22.76 and a one year high of $44.00. The company’s 50-day moving average is $30.29.

Viper Energy Partners (NASDAQ:VNOM) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $72.19 million for the quarter, compared to analysts’ expectations of $69.49 million. Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.64%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 earnings per share. Equities research analysts expect that Viper Energy Partners will post 0.3 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th will be given a $0.47 dividend. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.88 annualized dividend and a dividend yield of 6.21%. Viper Energy Partners’s dividend payout ratio (DPR) is presently 140.74%.

Several institutional investors and hedge funds have recently modified their holdings of VNOM. Eagle Asset Management Inc. grew its position in shares of Viper Energy Partners by 81.1% in the 1st quarter. Eagle Asset Management Inc. now owns 2,605,921 shares of the oil and gas producer’s stock worth $86,412,000 after acquiring an additional 1,167,173 shares in the last quarter. Carillon Tower Advisers Inc. grew its position in shares of Viper Energy Partners by 101.4% in the 1st quarter. Carillon Tower Advisers Inc. now owns 1,913,390 shares of the oil and gas producer’s stock worth $63,448,000 after acquiring an additional 963,271 shares in the last quarter. FMR LLC grew its position in shares of Viper Energy Partners by 14.7% in the 1st quarter. FMR LLC now owns 4,117,055 shares of the oil and gas producer’s stock worth $136,522,000 after acquiring an additional 528,497 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Viper Energy Partners by 28.4% in the 1st quarter. HITE Hedge Asset Management LLC now owns 2,227,512 shares of the oil and gas producer’s stock worth $73,864,000 after acquiring an additional 492,217 shares in the last quarter. Finally, Emerald Advisers LLC grew its position in shares of Viper Energy Partners by 2,774.2% in the 1st quarter. Emerald Advisers LLC now owns 418,449 shares of the oil and gas producer’s stock worth $13,876,000 after acquiring an additional 403,890 shares in the last quarter. Institutional investors own 38.70% of the company’s stock.

Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.

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Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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