Viper Energy Partners LP (NASDAQ:VNOM) announced a quarterly dividend on Tuesday, April 30th, NASDAQ reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.38 per share by the oil and gas producer on Monday, May 20th. This represents a $1.52 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Friday, May 10th.
Viper Energy Partners has increased its dividend payment by an average of 35.1% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Viper Energy Partners has a payout ratio of 125.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Viper Energy Partners to earn $0.69 per share next year, which means the company may not be able to cover its $2.04 annual dividend with an expected future payout ratio of 295.7%.
Shares of VNOM traded up $0.10 during mid-day trading on Friday, hitting $31.89. The company’s stock had a trading volume of 502,767 shares, compared to its average volume of 485,077. The company has a debt-to-equity ratio of 0.10, a current ratio of 20.09 and a quick ratio of 10.84. The stock has a market capitalization of $3.96 billion, a P/E ratio of 29.53 and a beta of 1.29. Viper Energy Partners has a 1-year low of $22.76 and a 1-year high of $44.00.
Several equities analysts recently issued reports on the company. Stephens assumed coverage on Viper Energy Partners in a report on Thursday, April 11th. They set an “overweight” rating and a $47.00 price objective for the company. BidaskClub cut Viper Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Viper Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Friday. Royal Bank of Canada assumed coverage on Viper Energy Partners in a report on Thursday, April 18th. They set an “outperform” rating and a $43.00 price objective for the company. Finally, Zacks Investment Research raised Viper Energy Partners from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $42.08.
In related news, President Hof Matthew Kaes Van’t sold 2,300 shares of Viper Energy Partners stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.51, for a total transaction of $77,073.00. Following the completion of the transaction, the president now directly owns 44,624 shares of the company’s stock, valued at $1,495,350.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.
An institutional investor recently raised its position in Viper Energy Partners stock. Geode Capital Management LLC raised its stake in Viper Energy Partners LP (NASDAQ:VNOM) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,970 shares of the oil and gas producer’s stock after acquiring an additional 5,324 shares during the quarter. Geode Capital Management LLC’s holdings in Viper Energy Partners were worth $1,014,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 32.26% of the company’s stock.
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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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