Brokerages Set Viper Energy Partners LP (NASDAQ:VNOM) Target Price at $34.22

Viper Energy Partners LP (NASDAQ:VNOMGet Rating) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.22.

VNOM has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Viper Energy Partners from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, April 11th. Raymond James raised their price objective on Viper Energy Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Piper Sandler raised their price objective on Viper Energy Partners from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. StockNews.com initiated coverage on Viper Energy Partners in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Truist Financial raised their price objective on Viper Energy Partners from $40.00 to $45.00 in a research report on Thursday, April 21st.

In other Viper Energy Partners news, major shareholder Holdings L.P. Blackstone III sold 210,000 shares of Viper Energy Partners stock in a transaction on Monday, February 28th. The stock was sold at an average price of $29.38, for a total value of $6,169,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven E. West sold 60,000 shares of Viper Energy Partners stock in a transaction on 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. Over the last three months, insiders have sold 831,436 shares of company stock valued at $24,701,964. 0.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Cardinal Capital Management LLC CT increased its stake 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 last quarter. Boston Partners increased its stake in shares of Viper Energy Partners by 20.9% in the 3rd quarter. Boston Partners now owns 1,713,953 shares of the oil and gas producer’s stock valued at $37,538,000 after purchasing an additional 296,239 shares during the last quarter. Comerica Bank increased its stake in shares of Viper Energy Partners by 46.6% in the 3rd quarter. Comerica Bank now owns 912,870 shares of the oil and gas producer’s stock valued at $17,429,000 after purchasing an additional 290,055 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Viper Energy Partners by 13.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,458,876 shares of the oil and gas producer’s stock valued at $53,727,000 after purchasing an additional 289,370 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Viper Energy Partners by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,309,349 shares of the oil and gas producer’s stock valued at $50,459,000 after purchasing an additional 267,725 shares during the last quarter. 47.03% of the stock is owned by hedge funds and other institutional investors.

Shares of Viper Energy Partners stock traded down $0.24 during trading on Friday, hitting $28.73. 32,963 shares of the stock were exchanged, compared to its average volume of 640,049. The company has a current ratio of 4.54, a quick ratio of 4.54 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $29.74 and a 200-day moving average price of $25.94. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 36.83 and a beta of 2.21. Viper Energy Partners has a 1-year low of $15.98 and a 1-year high of $32.35.

Viper Energy Partners (NASDAQ:VNOMGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The oil and gas producer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.17. The business had revenue of $165.79 million during the quarter, compared to analysts’ expectations of $125.77 million. Viper Energy Partners had a return on equity of 2.21% and a net margin of 11.48%. Viper Energy Partners’s quarterly revenue was up 117.2% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. Equities research analysts forecast that Viper Energy Partners will post 1.63 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 11th. Investors 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 6.54%. The ex-dividend date of this dividend was Thursday, March 3rd. Viper Energy Partners’s dividend payout ratio (DPR) is presently 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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