Shares of Viper Energy Partners LP (NASDAQ:VNOM) have been given a consensus recommendation of “Buy” by the twenty research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $41.06.
Several research firms have issued reports on VNOM. Northland Securities restated a “buy” rating and set a $38.00 target price on shares of Viper Energy Partners in a research report on Wednesday, May 1st. TheStreet upgraded Viper Energy Partners from a “c+” rating to a “b” rating in a research report on Wednesday, May 1st. Royal Bank of Canada began coverage on Viper Energy Partners in a research report on Thursday, April 18th. They set an “outperform” rating and a $43.00 target price on the stock. BidaskClub upgraded Viper Energy Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Barclays began coverage on Viper Energy Partners in a research report on Monday, May 13th. They set an “overweight” rating and a $44.00 target price on the stock.
Shares of VNOM stock traded up $0.04 during trading on Friday, hitting $31.59. The company’s stock had a trading volume of 420,474 shares, compared to its average volume of 334,416. The company has a market cap of $4.36 billion, a P/E ratio of 29.25 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. The business’s fifty day moving average is $30.07. Viper Energy Partners has a 52 week low of $22.76 and a 52 week high of $44.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Tuesday, August 13th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.38. Viper Energy Partners’s dividend payout ratio (DPR) is 140.74%.
In related news, President Hof Matthew Kaes Van’t sold 2,500 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.65, for a total value of $79,125.00. Following the sale, the president now owns 42,124 shares in the company, valued at $1,333,224.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in Viper Energy Partners by 12.7% in the fourth quarter. Northern Trust Corp now owns 61,141 shares of the oil and gas producer’s stock valued at $1,592,000 after acquiring an additional 6,908 shares during the period. Geode Capital Management LLC grew its holdings in shares of Viper Energy Partners by 15.8% during the fourth quarter. Geode Capital Management LLC now owns 38,970 shares of the oil and gas producer’s stock worth $1,014,000 after purchasing an additional 5,324 shares during the last quarter. Biltmore Wealth Management LLC bought a new stake in shares of Viper Energy Partners during the first quarter worth $451,000. Raymond James Trust N.A. bought a new stake in shares of Viper Energy Partners during the first quarter worth $230,000. Finally, Spirit of America Management Corp NY grew its holdings in shares of Viper Energy Partners by 6.8% during the first quarter. Spirit of America Management Corp NY now owns 409,746 shares of the oil and gas producer’s stock worth $13,587,000 after purchasing an additional 26,157 shares during the last quarter. Institutional investors and hedge funds own 38.91% 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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