Viper Energy Partners (VNOM) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other brokerages have also recently commented on VNOM. Northland Securities set a $24.00 price objective on shares of Viper Energy Partners and gave the stock a buy rating in a research note on Monday, November 13th. SunTrust Banks assumed coverage on Viper Energy Partners in a research report on Wednesday, November 29th. They set a buy rating on the stock. Zacks Investment Research lowered Viper Energy Partners from a buy rating to a hold rating in a research report on Tuesday, November 14th. Citigroup increased their target price on Viper Energy Partners from $20.00 to $22.00 and gave the company a buy rating in a research report on Monday, October 30th. Finally, Imperial Capital reiterated an in-line rating and set a $23.00 target price (up previously from $21.00) on shares of Viper Energy Partners in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $21.45.

Shares of Viper Energy Partners (NASDAQ:VNOM) opened at $21.49 on Friday. The company has a market cap of $2,450.00, a P/E ratio of 24.41, a PEG ratio of 1.48 and a beta of 1.06. Viper Energy Partners has a one year low of $14.76 and a one year high of $22.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.92 and a current ratio of 8.92.

Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $42.21 million for the quarter, compared to analysts’ expectations of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The business’s revenue was up 111.2% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. research analysts forecast that Viper Energy Partners will post 0.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were issued a $0.337 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.35 dividend on an annualized basis and a yield of 6.27%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.33. Viper Energy Partners’s dividend payout ratio (DPR) is presently 155.17%.

Hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new position in Viper Energy Partners in the 3rd quarter valued at $106,000. Creative Planning lifted its holdings in Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after purchasing an additional 12,155 shares in the last quarter. Credit Suisse AG purchased a new position in Viper Energy Partners in the 1st quarter valued at $270,000. Renaissance Technologies LLC purchased a new position in Viper Energy Partners in the 1st quarter valued at $281,000. Finally, Virtu KCG Holdings LLC lifted its holdings in Viper Energy Partners by 77.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after purchasing an additional 8,357 shares in the last quarter. Institutional investors own 27.14% of the company’s stock.

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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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