StockNews.com upgraded shares of Viper Energy Partners (NASDAQ:VNOM – Get Rating) from a hold rating to a buy rating in a research note released on Wednesday.
A number of other brokerages have also recently issued reports on VNOM. MKM Partners began 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. Raymond James increased their price objective on Viper Energy Partners from $38.00 to $41.00 and gave the stock an outperform rating in a report on Tuesday, August 30th. Barclays dropped their price objective 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. TheStreet raised Viper Energy Partners from a c+ rating to a b- rating in a report on Thursday, August 18th. Finally, TD Securities increased 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average target price of $37.67.
Get Viper Energy Partners alerts:Viper Energy Partners Stock Up 9.1 %
VNOM stock opened at $28.60 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.21 and a current ratio of 5.21. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 20.14 and a beta of 2.04. Viper Energy Partners has a fifty-two week low of $19.19 and a fifty-two week high of $35.85. The stock has a fifty day moving average of $30.06 and a 200-day moving average of $29.77.
Viper Energy Partners (NASDAQ:VNOM – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $239.32 million during the quarter, compared to the consensus estimate of $219.91 million. Viper Energy Partners had a return on equity of 4.34% and a net margin of 14.55%. The firm's quarterly revenue was up 109.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, equities research analysts predict that Viper Energy Partners will post 1.58 earnings per share for the current year.Viper Energy Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 16th were issued a $0.81 dividend. The ex-dividend date was Monday, August 15th. This represents a $3.24 annualized dividend and a dividend yield of 11.33%. This is a boost from Viper Energy Partners's previous quarterly dividend of $0.67. Viper Energy Partners's dividend payout ratio (DPR) is presently 228.17%.
Insider Buying and Selling at Viper Energy Partners
In other Viper Energy Partners news, major shareholder Holdings L.P. Blackstone III sold 41,500 shares of the firm's stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $32.94, for a total value of $1,367,010.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 90,200 shares of company stock valued at $2,969,316 in the last 90 days. Corporate insiders own 0.30% of the company's stock.
Hedge Funds Weigh In On Viper Energy Partners
A number of large investors have recently modified their holdings of the company. Howard Financial Services LTD. raised its holdings in shares of Viper Energy Partners by 1.7% during 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 buying an additional 321 shares in the last quarter. Larson Financial Group LLC raised its holdings 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 valued at $59,000 after buying an additional 370 shares in the last quarter. BTC Capital Management Inc. raised its holdings 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 valued at $423,000 after buying an additional 406 shares in the last quarter. Arizona State Retirement System raised its holdings 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 valued at $474,000 after buying an additional 465 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings 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 valued at $217,000 after buying an additional 518 shares in the last quarter. 43.41% of the stock is owned by hedge funds and other institutional investors.
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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