Viper Energy Partners (NASDAQ:VNOM) Price Target Raised to $52.00 at Raymond James

Viper Energy Partners (NASDAQ:VNOM) had its price target boosted by Raymond James from $50.00 to $52.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have a strong-buy rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently weighed in on VNOM. Barclays started coverage on shares of Viper Energy Partners in a research note on Monday, May 13th. They issued an overweight rating and a $44.00 target price on the stock. Zacks Investment Research upgraded shares of Viper Energy Partners from a hold rating to a buy rating and set a $37.00 target price on the stock in a report on Friday, April 12th. Stephens set a $46.00 price target on shares of Viper Energy Partners and gave the company a buy rating in a report on Monday, May 20th. TheStreet upgraded shares of Viper Energy Partners from a c+ rating to a b rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada started coverage on Viper Energy Partners in a research report on Thursday, April 18th. They set an outperform rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $41.06.

VNOM opened at $31.59 on Thursday. Viper Energy Partners has a 1-year low of $22.76 and a 1-year high of $44.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 20.09 and a current ratio of 20.09. The firm has a market capitalization of $4.26 billion, a P/E ratio of 175.28 and a beta of 1.35. The business’s fifty day simple moving average is $30.07.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). The company had revenue of $72.19 million for the quarter, compared to the consensus estimate of $69.49 million. Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.64%. Viper Energy Partners’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS. On average, analysts forecast that Viper Energy Partners will post 0.3 earnings per share for the current year.

The business 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 dividend of $0.47 per share. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.88 dividend on an annualized basis and a yield of 5.95%. Viper Energy Partners’s dividend payout ratio (DPR) is presently 140.74%.

In related news, President Hof Matthew Kaes Van’t sold 2,500 shares of Viper Energy Partners stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $31.65, for a total transaction of $79,125.00. Following the transaction, 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 SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy Partners in the first quarter valued at $50,000. Arlington Partners LLC purchased a new stake in Viper Energy Partners in the second quarter valued at $46,000. Capital Investment Advisory Services LLC purchased a new stake in Viper Energy Partners in the first quarter valued at $60,000. Belpointe Asset Management LLC purchased a new stake in Viper Energy Partners in the first quarter valued at $138,000. Finally, Baldwin Brothers Inc. MA purchased a new stake in Viper Energy Partners in the first quarter valued at $157,000. Hedge funds and other institutional investors own 38.91% of the company’s stock.

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.

See Also: Accumulation/Distribution

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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