Viper Energy Partners (NASDAQ:VNOM) Trading Down 5.6%

Viper Energy Partners LP (NASDAQ:VNOM)’s stock price traded down 5.6% during trading on Monday . The company traded as low as $22.78 and last traded at $22.96, 998,300 shares were traded during mid-day trading. An increase of 125% from the average session volume of 444,022 shares. The stock had previously closed at $24.33.

A number of equities analysts have recently commented on the stock. Raymond James increased their price target on shares of Viper Energy Partners from $50.00 to $52.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. TheStreet raised shares of Viper Energy Partners from a “c+” rating to a “b” rating in a report on Tuesday, October 29th. TD Securities decreased their price target on shares of Viper Energy Partners from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Northland Securities reissued a “buy” rating and issued a $35.00 price target on shares of Viper Energy Partners in a report on Monday, September 16th. Finally, Evercore ISI assumed coverage on shares of Viper Energy Partners in a report on Tuesday, July 30th. They issued an “outperform” rating and a $38.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.67.

The company has a current ratio of 14.44, a quick ratio of 14.44 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average is $25.86 and its 200 day moving average is $28.76. The company has a market cap of $3.28 billion, a P/E ratio of 21.26 and a beta of 1.29.

Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Viper Energy Partners had a net margin of 15.51% and a return on equity of 0.95%. The business had revenue of $71.79 million for the quarter, compared to the consensus estimate of $73.40 million. During the same period in the prior year, the business posted $0.58 EPS. Viper Energy Partners’s revenue for the quarter was down 7.6% on a year-over-year basis. Analysts anticipate that Viper Energy Partners LP will post 0.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.84 annualized dividend and a dividend yield of 8.01%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.22. Viper Energy Partners’s dividend payout ratio (DPR) is currently 170.37%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. San Francisco Sentry Investment Group CA boosted its position in Viper Energy Partners by 15.4% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,375 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 450 shares during the period. Envestnet Asset Management Inc. boosted its position in Viper Energy Partners by 6.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577 shares of the oil and gas producer’s stock valued at $264,000 after buying an additional 545 shares during the period. Raymond James Trust N.A. boosted its position in Viper Energy Partners by 8.4% during the 3rd quarter. Raymond James Trust N.A. now owns 7,650 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 593 shares during the period. First Republic Investment Management Inc. boosted its position in Viper Energy Partners by 6.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 9,850 shares of the oil and gas producer’s stock valued at $304,000 after buying an additional 630 shares during the period. Finally, Meridian Wealth Advisors LLC boosted its position in Viper Energy Partners by 2.3% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 28,750 shares of the oil and gas producer’s stock valued at $886,000 after buying an additional 650 shares during the period. 38.50% of the stock is owned by institutional investors and hedge funds.

Viper Energy Partners Company Profile (NASDAQ:VNOM)

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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