KeyCorp Equities Analysts Increase Earnings Estimates for Viper Energy Partners LP (NASDAQ:VNOM)

Viper Energy Partners LP (NASDAQ:VNOMGet Rating) – Analysts at KeyCorp increased their FY2022 EPS estimates for Viper Energy Partners in a research note issued to investors on Sunday, April 10th. KeyCorp analyst L. Mariani now anticipates that the oil and gas producer will post earnings of $0.65 per share for the year, up from their prior forecast of $0.50. KeyCorp currently has a “Overweight” rating and a $33.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Viper Energy Partners from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 25th. TD Securities lifted their price target on Viper Energy Partners from $27.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, February 23rd. Truist Financial lifted their price target on Viper Energy Partners from $35.00 to $40.00 in a report on Thursday, February 24th. Raymond James lifted their price target on Viper Energy Partners from $29.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, March 25th. Finally, Piper Sandler lifted their price target on Viper Energy Partners from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, April 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Viper Energy Partners has an average rating of “Buy” and an average price target of $31.89.

Shares of NASDAQ:VNOM opened at $31.36 on Wednesday. Viper Energy Partners has a 52 week low of $15.98 and a 52 week high of $31.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.54 and a current ratio of 4.54. The company’s fifty day moving average is $28.98 and its 200-day moving average is $25.26. The company has a market capitalization of $5.26 billion, a PE ratio of 40.21 and a beta of 2.21.

Viper Energy Partners (NASDAQ:VNOMGet Rating) last issued its earnings results on Tuesday, February 22nd. The oil and gas producer reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.17. Viper Energy Partners had a net margin of 11.48% and a return on equity of 2.21%. The company had revenue of $165.79 million for the quarter, compared to the consensus estimate of $125.77 million. During the same quarter in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 117.2% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the company. Epoch Investment Partners Inc. increased its stake in shares of Viper Energy Partners by 2.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 924,665 shares of the oil and gas producer’s stock valued at $20,204,000 after acquiring an additional 26,310 shares during the last quarter. Recurrent Investment Advisors LLC grew its position in shares of Viper Energy Partners by 16.8% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 608,101 shares of the oil and gas producer’s stock valued at $13,287,000 after purchasing an additional 87,593 shares during the period. Morgan Stanley grew its position in shares of Viper Energy Partners by 2.2% in the 3rd quarter. Morgan Stanley now owns 1,445,632 shares of the oil and gas producer’s stock valued at $31,587,000 after purchasing an additional 30,729 shares during the period. Cardinal Capital Management LLC CT grew its position in shares of Viper Energy Partners by 13.5% in the 3rd quarter. Cardinal Capital Management LLC CT now owns 2,780,414 shares of the oil and gas producer’s stock valued at $60,752,000 after purchasing an additional 331,032 shares during the period. Finally, Natixis acquired a new position in shares of Viper Energy Partners in the 3rd quarter valued at approximately $3,548,000. 37.94% of the stock is owned by institutional investors.

In other news, major shareholder Holdings L.P. Blackstone III sold 6,200 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $30.06, for a total value of $186,372.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven E. West sold 60,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $28.37, for a total value of $1,702,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 771,625 shares of company stock valued at $22,816,251 over the last three months. Company insiders own 0.30% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 11th. Shareholders of record on Friday, March 4th were issued a dividend of $0.47 per share. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.38. This represents a $1.88 annualized dividend and a yield of 5.99%. The ex-dividend date was Thursday, March 3rd. Viper Energy Partners’s payout ratio is currently 241.03%.

Viper Energy Partners Company Profile (Get Rating)

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated proved oil and natural gas reserves of 127,888 thousand barrels of crude oil equivalent.

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Earnings History and Estimates for Viper Energy Partners (NASDAQ:VNOM)

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