Zacks: Brokerages Anticipate Viper Energy Partners LP (NASDAQ:VNOM) Will Post Quarterly Sales of $210.57 Million

Analysts expect Viper Energy Partners LP (NASDAQ:VNOMGet Rating) to announce $210.57 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Viper Energy Partners’ earnings. The lowest sales estimate is $200.00 million and the highest is $236.00 million. Viper Energy Partners reported sales of $114.15 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 84.5%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Viper Energy Partners will report full year sales of $816.13 million for the current financial year, with estimates ranging from $780.70 million to $927.00 million. For the next financial year, analysts expect that the business will post sales of $797.36 million, with estimates ranging from $694.67 million to $981.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Viper Energy Partners.

Viper Energy Partners (NASDAQ:VNOMGet Rating) last released its quarterly earnings data on Monday, May 2nd. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). Viper Energy Partners had a return on equity of 3.32% and a net margin of 12.72%. During the same quarter in the prior year, the firm posted ($0.08) EPS.

Several brokerages recently weighed in on VNOM. KeyCorp raised their price target on shares of 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 target on shares of Viper Energy Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. Zacks Investment Research raised shares of Viper Energy Partners from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, March 16th. TD Securities raised their price target on shares of Viper Energy Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Finally, Piper Sandler raised their price target on shares of Viper Energy Partners from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $34.89.

In related news, major shareholder Bx Guidon Topco Llc sold 123,000 shares of Viper Energy Partners stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $28.38, for a total value of $3,490,740.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings L.P. Blackstone III sold 210,000 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $29.38, for a total transaction of $6,169,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 831,436 shares of company stock valued at $24,701,964. 0.30% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in VNOM. Morgan Stanley boosted its holdings in Viper Energy Partners by 20.1% in the 2nd quarter. Morgan Stanley now owns 1,414,903 shares of the oil and gas producer’s stock valued at $26,644,000 after purchasing an additional 237,242 shares during the period. Advisor Group Holdings Inc. boosted its holdings in Viper Energy Partners by 204.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 89,481 shares of the oil and gas producer’s stock valued at $1,955,000 after purchasing an additional 60,078 shares during the period. Truist Financial Corp boosted its holdings in Viper Energy Partners by 21.0% in the 3rd quarter. Truist Financial Corp now owns 14,306 shares of the oil and gas producer’s stock valued at $313,000 after purchasing an additional 2,481 shares during the period. We Are One Seven LLC bought a new position in Viper Energy Partners in the 3rd quarter valued at $553,000. Finally, Teacher Retirement System of Texas bought a new position in Viper Energy Partners in the 3rd quarter valued at $207,000. 47.03% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VNOM opened at $30.52 on Friday. Viper Energy Partners has a fifty-two week low of $15.98 and a fifty-two week high of $32.35. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 29.07 and a beta of 2.09. 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 firm’s 50-day simple moving average is $29.98 and its 200 day simple moving average is $26.14.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 19th. Stockholders of record on Thursday, May 12th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, May 11th. This represents a $2.68 annualized dividend and a dividend yield of 8.78%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.47. Viper Energy Partners’s dividend payout ratio (DPR) is presently 179.05%.

About Viper Energy Partners (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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