Viper Energy Partners LP (NASDAQ:VNOM) Receives $39.87 Average PT from Brokerages

09 Dec 2019, 10:14 by Renee Jackson

Shares of Viper Energy Partners LP (NASDAQ:VNOM) have earned an average rating of “Buy” from the nineteen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $39.87.

Several analysts recently weighed in on VNOM shares. JPMorgan Chase & Co. dropped their price target on Viper Energy Partners from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. TD Securities lowered their price objective on Viper Energy Partners from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. TheStreet raised Viper Energy Partners from a “c+” rating to a “b” rating in a report on Tuesday, October 29th. ValuEngine downgraded shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub lowered Viper Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 21st.

VNOM opened at $24.92 on Friday. The stock’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $27.99. Viper Energy Partners has a 1-year low of $21.89 and a 1-year high of $36.73. The stock has a market cap of $3.39 billion, a PE ratio of 23.07 and a beta of 1.31. The company has a current ratio of 14.44, a quick ratio of 14.44 and a debt-to-equity ratio of 0.26.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Viper Energy Partners had a return on equity of 0.95% and a net margin of 15.51%. The company had revenue of $71.79 million for the quarter, compared to the consensus estimate of $73.40 million. During the same period last year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts forecast that Viper Energy Partners will post 0.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.46 dividend. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.22. This represents a $1.84 annualized dividend and a yield of 7.38%. The ex-dividend date of this dividend was Thursday, November 7th. Viper Energy Partners’s dividend payout ratio is 170.37%.

Several hedge funds have recently added to or reduced their stakes in VNOM. Steward Partners Investment Advisory LLC lifted its holdings in shares of Viper Energy Partners by 120.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 22,656 shares of the oil and gas producer’s stock worth $698,000 after purchasing an additional 12,358 shares during the period. Lee Financial Co grew its position in shares of Viper Energy Partners by 13.9% in the 2nd quarter. Lee Financial Co now owns 30,675 shares of the oil and gas producer’s stock valued at $945,000 after buying an additional 3,750 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of Viper Energy Partners by 23.3% in the second quarter. Emerald Advisers LLC now owns 515,962 shares of the oil and gas producer’s stock valued at $15,902,000 after buying an additional 97,513 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Viper Energy Partners by 8.8% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 335,520 shares of the oil and gas producer’s stock worth $10,341,000 after acquiring an additional 27,050 shares during the last quarter. Finally, Keybank National Association OH bought a new position in shares of Viper Energy Partners during the second quarter worth about $210,000. 39.72% of the stock is owned by hedge funds and other institutional investors.

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.