Viper Energy Partners LP (VNOM) Stock Price Up 4.5%
Viper Energy Partners LP (NASDAQ:VNOM) shares rose 4.5% during mid-day trading on Monday . The company traded as high as $17.56 and last traded at $17.27, with a volume of 64,607 shares trading hands. The stock had previously closed at $16.52.
VNOM has been the topic of a number of recent analyst reports. Sterne Agee CRT reiterated a “neutral” rating on shares of Viper Energy Partners in a research report on Monday, May 16th. Zacks Investment Research upgraded Viper Energy Partners from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, July 19th. Simmons reiterated an “overweight” rating and set a $22.00 target price on shares of Viper Energy Partners in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. initiated coverage on Viper Energy Partners in a research report on Monday, July 11th. They set an “overweight” rating and a $22.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.14.
The stock has a 50 day moving average price of $17.69 and a 200 day moving average price of $17.37. The company’s market capitalization is $1.36 billion.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 15th will be issued a $0.189 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.42%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, August 11th.
In related news, Director Diamondback Energy, Inc. bought 2,000,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $15.60 per share, with a total value of $31,200,000.00. Following the completion of the acquisition, the director now owns 72,450,000 shares in the company, valued at approximately $1,130,220,000. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Viper Energy Partners LP is a limited partnership that owns, acquires and exploits oil and natural gas properties in North America. The Company’s business objective is to provide an attractive return to its unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback Energy, Inc and from third parties.
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