KeyCorp assumed coverage on shares of Viper Energy Partners (NASDAQ:VNOM – Get Rating) in a research report released on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $39.00 price target on the oil and gas producer's stock. KeyCorp also issued estimates for Viper Energy Partners' Q3 2022 earnings at $0.44 EPS, Q4 2022 earnings at $0.43 EPS, FY2022 earnings at $1.52 EPS, Q1 2023 earnings at $0.46 EPS, Q2 2023 earnings at $0.43 EPS, Q3 2023 earnings at $0.44 EPS, Q4 2023 earnings at $0.45 EPS and FY2023 earnings at $1.78 EPS.
VNOM has been the topic of a number of other reports. Piper Sandler lowered their price target on Viper Energy Partners from $39.00 to $37.00 in a report on Friday, July 22nd. Barclays lowered their price target on Viper Energy Partners from $38.00 to $37.00 and set an overweight rating on the stock in a report on Wednesday, August 31st. StockNews.com cut Viper Energy Partners from a buy rating to a hold rating in a report on Friday, July 15th. TD Securities upped their price objective on Viper Energy Partners from $36.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, August 3rd. Finally, MKM Partners initiated coverage on Viper Energy Partners in a report on Wednesday, July 20th. They set a buy rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $37.67.
Get Viper Energy Partners alerts:Viper Energy Partners Trading Down 2.3 %
Shares of NASDAQ:VNOM opened at $29.61 on Monday. The stock has a 50 day moving average of $29.93 and a 200 day moving average of $29.82. The company has a market cap of $4.91 billion, a PE ratio of 21.10 and a beta of 2.04. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.30. Viper Energy Partners has a 12-month low of $19.19 and a 12-month high of $35.85.
Viper Energy Partners (NASDAQ:VNOM – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. Viper Energy Partners had a return on equity of 4.34% and a net margin of 14.55%. The company had revenue of $239.32 million during the quarter, compared to the consensus estimate of $219.91 million. During the same period in the previous year, the company posted $0.09 EPS. The firm's revenue was up 109.7% on a year-over-year basis. As a group, equities research analysts expect that Viper Energy Partners will post 1.59 EPS for the current year.Viper Energy Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 16th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $3.24 annualized dividend and a dividend yield of 10.94%. This is an increase from Viper Energy Partners's previous quarterly dividend of $0.67. Viper Energy Partners's payout ratio is currently 228.17%.
Insider Activity
In other news, major shareholder Holdings L.P. Blackstone III sold 41,500 shares of the business's stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $32.94, for a total transaction of $1,367,010.00. Following the transaction, the insider now owns 898,993 shares of the company's stock, valued at approximately $29,612,829.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 90,200 shares of company stock valued at $2,969,316. 0.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Viper Energy Partners
Several hedge funds have recently bought and sold shares of the business. Howard Financial Services LTD. grew its position in Viper Energy Partners by 1.7% in the 1st quarter. Howard Financial Services LTD. now owns 19,336 shares of the oil and gas producer's stock valued at $572,000 after acquiring an additional 321 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Viper Energy Partners by 20.2% during the 2nd quarter. Larson Financial Group LLC now owns 2,205 shares of the oil and gas producer's stock worth $59,000 after buying an additional 370 shares in the last quarter. BTC Capital Management Inc. grew its position in shares of Viper Energy Partners by 2.9% during the 1st quarter. BTC Capital Management Inc. now owns 14,472 shares of the oil and gas producer's stock worth $423,000 after buying an additional 406 shares in the last quarter. Arizona State Retirement System grew its position in shares of Viper Energy Partners by 3.0% during the 1st quarter. Arizona State Retirement System now owns 16,041 shares of the oil and gas producer's stock worth $474,000 after buying an additional 465 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Viper Energy Partners by 6.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,132 shares of the oil and gas producer's stock worth $217,000 after buying an additional 518 shares in the last quarter. Institutional investors own 43.41% of the company's stock.
About Viper Energy Partners
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Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated proved oil and natural gas reserves of 127,888 thousand barrels of crude oil equivalent.
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