Viper Energy Partners (VNOM) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a hold rating to a buy rating in a report released on Thursday morning.

A number of other equities analysts have also commented on the stock. Oppenheimer reissued a buy rating on shares of Viper Energy Partners in a report on Monday, October 29th. Credit Suisse Group lifted their price target on shares of Viper Energy Partners from $39.00 to $42.00 and gave the stock an outperform rating in a research note on Tuesday, October 30th. ValuEngine lowered shares of Viper Energy Partners from a buy rating to a hold rating in a research note on Thursday, December 6th. Ifs Securities initiated coverage on shares of Viper Energy Partners in a research note on Monday, October 29th. They issued a strong-buy rating for the company. Finally, Piper Jaffray Companies reissued a buy rating and issued a $44.00 price objective on shares of Viper Energy Partners in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $43.91.

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NASDAQ VNOM traded up $0.27 during mid-day trading on Thursday, reaching $35.25. 4,613 shares of the stock were exchanged, compared to its average volume of 567,007. Viper Energy Partners has a one year low of $21.51 and a one year high of $44.00. The company has a market capitalization of $4.36 billion, a PE ratio of 32.70 and a beta of 1.31. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.23.

Viper Energy Partners (NASDAQ:VNOM) last announced its earnings results on Tuesday, February 5th. The oil and gas producer reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The firm had revenue of $73.67 million for the quarter, compared to the consensus estimate of $81.53 million. Viper Energy Partners had a return on equity of 7.06% and a net margin of 49.62%. During the same period in the prior year, the business earned $0.37 EPS. As a group, equities analysts expect that Viper Energy Partners will post 0.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Tuesday, February 19th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date is Friday, February 15th. Viper Energy Partners’s payout ratio is 214.81%.

In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 5,000 shares of the stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $25.76, for a total transaction of $128,800.00. Following the completion of the sale, the president now directly owns 52,673 shares of the company’s stock, valued at $1,356,856.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors bought a new position in Viper Energy Partners during the 3rd quarter worth approximately $166,610,000. HITE Hedge Asset Management LLC boosted its position in Viper Energy Partners by 221.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 1,735,295 shares of the oil and gas producer’s stock valued at $45,187,000 after buying an additional 1,195,378 shares during the period. Eagle Asset Management Inc. purchased a new stake in Viper Energy Partners during the 3rd quarter valued at $49,279,000. Wells Fargo & Company MN boosted its position in Viper Energy Partners by 571.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,226,697 shares of the oil and gas producer’s stock valued at $51,644,000 after buying an additional 1,043,868 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in Viper Energy Partners during the 3rd quarter valued at $34,749,000. 29.83% of the stock is owned by institutional investors and hedge funds.

About Viper Energy Partners

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

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