Viper Energy Partners’ (VNOM) “Buy” Rating Reaffirmed at SunTrust Banks
SunTrust Banks reaffirmed their buy rating on shares of Viper Energy Partners (NASDAQ:VNOM) in a research note issued to investors on Tuesday morning. They currently have a $32.00 price objective on the oil and gas producer’s stock. SunTrust Banks also issued estimates for Viper Energy Partners’ Q4 2017 earnings at $0.32 EPS, FY2017 earnings at $1.01 EPS, FY2018 earnings at $1.48 EPS, FY2019 earnings at $1.87 EPS and FY2020 earnings at $2.11 EPS.
A number of other brokerages have also issued reports on VNOM. Deutsche Bank began coverage on Viper Energy Partners in a research report on Thursday, February 1st. They set a buy rating and a $27.00 target price on the stock. Zacks Investment Research lowered Viper Energy Partners from a buy rating to a hold rating in a research report on Friday, February 2nd. Mizuho set a $29.00 target price on Viper Energy Partners and gave the stock a buy rating in a research report on Tuesday, January 16th. Stifel Nicolaus reaffirmed a buy rating and set a $29.00 target price on shares of Viper Energy Partners in a research report on Wednesday, January 17th. Finally, BidaskClub raised Viper Energy Partners from a buy rating to a strong-buy rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $25.64.
Shares of Viper Energy Partners (NASDAQ VNOM) opened at $22.86 on Tuesday. Viper Energy Partners has a 52-week low of $14.76 and a 52-week high of $26.19. The stock has a market capitalization of $2,600.00, a PE ratio of 21.77, a PEG ratio of 1.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.92 and a current ratio of 8.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 19th will be issued a $0.46 dividend. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.34. This represents a $1.84 annualized dividend and a yield of 8.05%. The ex-dividend date of this dividend is Thursday, February 15th. Viper Energy Partners’s payout ratio is currently 128.57%.
A number of institutional investors have recently made changes to their positions in VNOM. FMR LLC increased its holdings in Viper Energy Partners by 26.2% in the second quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock valued at $22,845,000 after buying an additional 302,400 shares during the last quarter. Virtu KCG Holdings LLC increased its holdings in Viper Energy Partners by 77.4% in the second quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after buying an additional 8,357 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Viper Energy Partners by 9.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock valued at $310,000 after buying an additional 1,726 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Viper Energy Partners in the third quarter valued at about $106,000. Finally, Boston Partners increased its holdings in Viper Energy Partners by 27.4% in the third quarter. Boston Partners now owns 2,127,350 shares of the oil and gas producer’s stock valued at $39,654,000 after buying an additional 457,308 shares during the last quarter. 26.95% of the stock is owned by hedge funds and other institutional investors.
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Viper Energy Partners Company Profile
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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