Viper Energy Partners (NASDAQ:VNOM) Price Target Raised to $48.00

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Viper Energy Partners (NASDAQ:VNOM) had its target price lifted by TD Securities from $46.00 to $48.00 in a research report report published on Tuesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the oil and gas producer’s stock.

VNOM has been the subject of a number of other reports. Northland Securities restated a buy rating and issued a $35.00 price objective on shares of Viper Energy Partners in a research report on Monday. BidaskClub raised shares of Viper Energy Partners from a strong sell rating to a sell rating in a research note on Saturday, August 3rd. Capital One Financial initiated coverage on shares of Viper Energy Partners in a research note on Tuesday, July 2nd. They issued an overweight rating and a $37.00 target price on the stock. Stephens set a $46.00 target price on shares of Viper Energy Partners and gave the company a buy rating in a research note on Monday, May 20th. Finally, Raymond James raised their target price on shares of Viper Energy Partners from $50.00 to $52.00 and gave the company a strong-buy rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $40.65.

Shares of NASDAQ:VNOM opened at $30.06 on Tuesday. The company has a 50-day moving average price of $29.53 and a two-hundred day moving average price of $30.88. The company has a quick ratio of 17.70, a current ratio of 17.70 and a debt-to-equity ratio of 0.13. Viper Energy Partners has a twelve month low of $22.76 and a twelve month high of $44.00. The firm has a market capitalization of $4.35 billion, a PE ratio of 27.83 and a beta of 1.38.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.62%. The firm had revenue of $72.19 million during the quarter, compared to the consensus estimate of $69.49 million. During the same quarter last year, the business posted $1.35 earnings per share. Viper Energy Partners’s revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Viper Energy Partners will post 0.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.38. This represents a $1.88 annualized dividend and a dividend yield of 6.25%. Viper Energy Partners’s dividend payout ratio (DPR) is 174.07%.

Several hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System boosted its holdings in Viper Energy Partners by 13.3% in the first quarter. California Public Employees Retirement System now owns 76,424 shares of the oil and gas producer’s stock valued at $2,534,000 after acquiring an additional 8,973 shares in the last quarter. Stephens Inc. AR boosted its position in Viper Energy Partners by 13.7% during the first quarter. Stephens Inc. AR now owns 9,950 shares of the oil and gas producer’s stock valued at $330,000 after purchasing an additional 1,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Viper Energy Partners during the first quarter valued at about $6,382,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Viper Energy Partners by 42.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,000 shares of the oil and gas producer’s stock valued at $1,791,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its position in Viper Energy Partners by 51.8% during the first quarter. Freestone Capital Holdings LLC now owns 29,300 shares of the oil and gas producer’s stock valued at $972,000 after purchasing an additional 10,000 shares in the last quarter. 38.77% 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. 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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