SunTrust Banks set a $35.00 price objective on Viper Energy Partners (NASDAQ:VNOM) in a research report released on Monday morning. The firm currently has a buy rating on the oil and gas producer’s stock.
Other analysts have also issued research reports about the company. BidaskClub lowered Viper Energy Partners from a strong-buy rating to a buy rating in a report on Saturday, March 10th. Piper Jaffray set a $32.00 price objective on Viper Energy Partners and gave the company a buy rating in a report on Tuesday, February 27th. Citigroup upped their price objective on Viper Energy Partners from $22.00 to $24.00 and gave the company a buy rating in a report on Thursday, February 22nd. Deutsche Bank started coverage on Viper Energy Partners in a report on Thursday, February 1st. They issued a buy rating and a $27.00 price objective for the company. Finally, Stifel Nicolaus restated a buy rating and issued a $29.00 price objective on shares of Viper Energy Partners in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $27.38.
Shares of Viper Energy Partners stock opened at $28.71 on Monday. The company has a quick ratio of 9.86, a current ratio of 9.86 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3,205.78, a PE ratio of 26.83 and a beta of 0.89. Viper Energy Partners has a fifty-two week low of $14.76 and a fifty-two week high of $29.07.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 20th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.69%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, April 19th. Viper Energy Partners’s dividend payout ratio is currently 171.96%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Viper Energy Partners by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 79,384 shares of the oil and gas producer’s stock valued at $1,852,000 after purchasing an additional 3,361 shares during the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Viper Energy Partners by 940.0% during the fourth quarter. Thompson Davis & CO. Inc. now owns 5,200 shares of the oil and gas producer’s stock valued at $121,000 after purchasing an additional 4,700 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Viper Energy Partners during the fourth quarter valued at $205,000. Investment House LLC purchased a new stake in shares of Viper Energy Partners during the fourth quarter valued at $223,000. Finally, Cushing Asset Management LP purchased a new stake in shares of Viper Energy Partners during the fourth quarter valued at $373,000. 26.90% of the stock is owned by institutional investors and hedge funds.
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Viper Energy Partners Company Profile
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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