Zacks: Brokerages Anticipate Viper Energy Partners LP (NASDAQ:VNOM) Will Post Quarterly Sales of $97.47 Million

Equities analysts expect Viper Energy Partners LP (NASDAQ:VNOM) to report $97.47 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Viper Energy Partners’ earnings, with estimates ranging from $91.00 million to $113.00 million. Viper Energy Partners posted sales of $62.94 million during the same quarter last year, which suggests a positive year over year growth rate of 54.9%. The firm is scheduled to report its next quarterly earnings report on Monday, November 1st.

According to Zacks, analysts expect that Viper Energy Partners will report full-year sales of $387.75 million for the current fiscal year, with estimates ranging from $343.00 million to $446.00 million. For the next financial year, analysts expect that the business will post sales of $491.86 million, with estimates ranging from $441.00 million to $559.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Viper Energy Partners.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Sunday, August 1st. The oil and gas producer reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Viper Energy Partners had a negative net margin of 7.63% and a positive return on equity of 0.44%. The business had revenue of $114.20 million during the quarter, compared to analysts’ expectations of $88.83 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 249.2% on a year-over-year basis.

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Viper Energy Partners from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. Citigroup increased their target price on shares of Viper Energy Partners from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, July 21st. Finally, Raymond James increased their target price on shares of Viper Energy Partners from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, August 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Viper Energy Partners has a consensus rating of “Buy” and a consensus price target of $18.78.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Viper Energy Partners by 1,513.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,319,586 shares of the oil and gas producer’s stock worth $19,214,000 after purchasing an additional 1,237,787 shares during the last quarter. Advisory Research Inc. grew its position in Viper Energy Partners by 26.7% during the 1st quarter. Advisory Research Inc. now owns 995,097 shares of the oil and gas producer’s stock worth $14,489,000 after purchasing an additional 210,008 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Viper Energy Partners during the 1st quarter worth $29,254,000. Credit Suisse AG grew its position in Viper Energy Partners by 53.9% during the 1st quarter. Credit Suisse AG now owns 32,897 shares of the oil and gas producer’s stock worth $478,000 after purchasing an additional 11,523 shares during the last quarter. Finally, Morgan Stanley grew its position in Viper Energy Partners by 76.2% during the 1st quarter. Morgan Stanley now owns 1,177,661 shares of the oil and gas producer’s stock worth $17,147,000 after purchasing an additional 509,193 shares during the last quarter. 30.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VNOM stock traded up $0.89 during trading hours on Friday, hitting $19.95. The company had a trading volume of 7,371 shares, compared to its average volume of 519,503. The company’s fifty day moving average is $17.98 and its 200 day moving average is $17.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. Viper Energy Partners has a fifty-two week low of $6.52 and a fifty-two week high of $20.09. The stock has a market capitalization of $3.09 billion, a PE ratio of -49.58 and a beta of 2.80.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 12th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.62%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, August 11th. Viper Energy Partners’s dividend payout ratio (DPR) is 471.43%.

About Viper Energy Partners

Viper Energy Partners LP engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.

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