Barclays PLC Reiterates “$21.00” Price Target for Viper Energy Partners LP (VNOM)

Barclays PLC set a $21.00 price target on Viper Energy Partners LP (NASDAQ:VNOM) in a report published on Thursday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on the company. Northland Securities reissued a buy rating and issued a $24.00 price objective on shares of Viper Energy Partners in a research report on Thursday, October 12th. Imperial Capital reaffirmed an in-line rating and issued a $23.00 target price (up from $21.00) on shares of Viper Energy Partners in a research report on Wednesday, October 4th. UBS AG assumed coverage on Viper Energy Partners in a research report on Monday, October 2nd. They issued a neutral rating and a $18.00 target price for the company. Zacks Investment Research raised Viper Energy Partners from a hold rating to a strong-buy rating and set a $21.00 target price for the company in a research report on Wednesday, September 27th. Finally, Piper Jaffray Companies decreased their target price on Viper Energy Partners from $22.00 to $20.00 and set an overweight rating for the company in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $21.27.

Shares of Viper Energy Partners (NASDAQ:VNOM) traded up 1.50% on Thursday, hitting $19.00. The stock had a trading volume of 178,482 shares. Viper Energy Partners has a 52 week low of $13.53 and a 52 week high of $19.83. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 25.13 and a beta of 0.99. The firm has a 50 day moving average price of $18.43 and a 200-day moving average price of $17.28.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The firm had revenue of $42.21 million during the quarter, compared to analyst estimates of $40.88 million. During the same period last year, the company posted $0.12 EPS. The business’s quarterly revenue was up 111.2% on a year-over-year basis. Analysts anticipate that Viper Energy Partners will post $0.93 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be given a $0.337 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 7.09%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, November 6th. Viper Energy Partners’s payout ratio is presently 151.14%.

In related news, Director Michael L. Hollis acquired 2,500 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $16.07 per share, with a total value of $40,175.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

A number of institutional investors and hedge funds have recently modified their holdings of the business. CI Global Investments Inc. increased its holdings in Viper Energy Partners by 6.0% during the 2nd quarter. CI Global Investments Inc. now owns 1,934,200 shares of the oil and gas producer’s stock worth $30,367,000 after purchasing an additional 108,705 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Viper Energy Partners by 141.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,596,303 shares of the oil and gas producer’s stock worth $28,701,000 after purchasing an additional 934,700 shares in the last quarter. FMR LLC increased its holdings in Viper Energy Partners by 26.2% during the 2nd quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock worth $22,845,000 after purchasing an additional 302,400 shares in the last quarter. Bank of America Corp DE increased its holdings in Viper Energy Partners by 21,657.1% during the 1st quarter. Bank of America Corp DE now owns 970,366 shares of the oil and gas producer’s stock worth $17,448,000 after purchasing an additional 965,906 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Viper Energy Partners by 54.5% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock worth $15,069,000 after purchasing an additional 338,500 shares in the last quarter. 15.64% of the stock is owned by hedge funds and other institutional investors.

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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