Viper Energy Partners (NASDAQ:VNOM) Sees Unusually-High Trading Volume

Viper Energy Partners LP (NASDAQ:VNOM) saw an uptick in trading volume on Friday . 609,574 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 411,365 shares.The stock last traded at $30.27 and had previously closed at $29.23.

Wall Street Analyst Weigh In

Several research firms have recently commented on VNOM. Piper Sandler upped their price objective on shares of Viper Energy Partners from $34.00 to $38.00 in a report on Wednesday, September 6th. StockNews.com raised shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday. TD Securities increased their price target on shares of Viper Energy Partners from $36.00 to $37.50 and gave the stock a “buy” rating in a report on Wednesday, September 6th. Truist Financial increased their price target on shares of Viper Energy Partners from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Raymond James increased their price target on shares of Viper Energy Partners from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, September 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.64.

Viper Energy Partners Price Performance

The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $28.62 and its two-hundred day simple moving average is $27.45. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.28 and a beta of 1.81.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 6th. The oil and gas producer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.64. The company had revenue of $293.20 million during the quarter, compared to analysts’ expectations of $199.43 million. Viper Energy Partners had a net margin of 19.94% and a return on equity of 7.35%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. Equities research analysts predict that Viper Energy Partners LP will post 2.3 earnings per share for the current year.

Viper Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, November 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.50%. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, November 15th. Viper Energy Partners’s dividend payout ratio is 47.16%.

Institutional Investors Weigh In On Viper Energy Partners

A number of hedge funds have recently modified their holdings of VNOM. Barclays PLC acquired a new stake in shares of Viper Energy Partners in the first quarter valued at about $31,000. CWM LLC raised its position in shares of Viper Energy Partners by 128.2% in the second quarter. CWM LLC now owns 1,483 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 833 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Viper Energy Partners in the first quarter valued at about $56,000. International Assets Investment Management LLC purchased a new stake in shares of Viper Energy Partners in the third quarter valued at about $57,000. Finally, State of Wyoming purchased a new stake in shares of Viper Energy Partners in the fourth quarter valued at about $57,000. 37.34% of the stock is currently owned by institutional investors and hedge funds.

About Viper Energy Partners