Viper Energy Partners LP (NASDAQ:VNOM) announced its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01, Bloomberg Earnings reports. The business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%.
Shares of Viper Energy Partners (NASDAQ VNOM) traded down 0.31% during trading on Friday, reaching $16.00. The company’s stock had a trading volume of 279,603 shares. Viper Energy Partners has a 52 week low of $13.53 and a 52 week high of $19.38. The company has a 50 day moving average price of $16.56 and a 200 day moving average price of $17.18. The firm has a market capitalization of $1.82 billion, a P/E ratio of 21.16 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.332 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.33 dividend on an annualized basis and a yield of 8.30%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.30. Viper Energy Partners’s dividend payout ratio is currently 175.00%.
A number of brokerages have recently weighed in on VNOM. Imperial Capital began coverage on Viper Energy Partners in a report on Tuesday. They issued an “outperform” rating and a $21.00 price objective on the stock. Stifel Nicolaus set a $20.00 price objective on Viper Energy Partners and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Barclays PLC upped their target price on Viper Energy Partners from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, TheStreet upgraded Viper Energy Partners from a “c+” rating to a “b-” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Viper Energy Partners presently has an average rating of “Buy” and an average price target of $20.58.
In other news, Director Diamondback Energy, Inc. purchased 700,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $14.38 per share, with a total value of $10,066,000.00. Following the purchase, the director now directly owns 73,150,000 shares of the company’s stock, valued at $1,051,897,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Russell Pantermuehl purchased 18,487 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $272,683.25. Following the purchase, the vice president now directly owns 48,487 shares in the company, valued at $715,183.25. The disclosure for this purchase can be found here. Insiders have bought a total of 753,918 shares of company stock worth $10,861,291 in the last three months.
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About Viper Energy Partners
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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