Viper Energy Partners (NASDAQ:VNOM) Price Target Increased to $35.00 by Analysts at Truist

Viper Energy Partners (NASDAQ:VNOM) had its price objective increased by Truist from $29.00 to $35.00 in a report released on Friday, The Fly reports. They currently have a buy rating on the oil and gas producer’s stock.

A number of other analysts have also recently weighed in on the stock. Truist Securities boosted their price objective on shares of Viper Energy Partners from $26.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, October 7th. KeyCorp upped their target price on shares of Viper Energy Partners from $21.00 to $26.00 and gave the company an overweight rating in a research note on Wednesday, October 20th. Piper Sandler upped their target price on shares of Viper Energy Partners from $20.00 to $25.00 and gave the company an overweight rating in a research note on Wednesday, October 13th. Finally, Raymond James upped their target price on shares of Viper Energy Partners from $28.00 to $29.00 and gave the company an outperform rating in a research note on Tuesday, November 16th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $26.75.

Shares of Viper Energy Partners stock opened at $26.50 on Friday. The firm has a fifty day simple moving average of $22.47 and a 200-day simple moving average of $20.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.81 and a current ratio of 1.81. Viper Energy Partners has a 1-year low of $13.44 and a 1-year high of $26.73.

Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Sunday, October 31st. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.12. Viper Energy Partners had a negative net margin of 2.20% and a positive return on equity of 1.20%. The business had revenue of $128.00 million during the quarter, compared to analysts’ expectations of $104.18 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Viper Energy Partners’s revenue for the quarter was up 103.5% on a year-over-year basis. Equities research analysts anticipate that Viper Energy Partners will post 0.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 18th. Shareholders of record on Wednesday, November 10th were issued a dividend of $0.38 per share. The ex-dividend date was Tuesday, November 9th. This represents a $1.52 dividend on an annualized basis and a yield of 5.74%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.22. Viper Energy Partners’s dividend payout ratio is currently -1,169.14%.

In other Viper Energy Partners news, major shareholder Holdings L.P. Blackstone III sold 1,500,000 shares of the stock in a transaction dated Sunday, January 9th. The shares were sold at an average price of $24.88, for a total transaction of $37,320,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Matt Zmigrosky sold 2,579 shares of the company’s stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $22.62, for a total transaction of $58,336.98. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Total Clarity Wealth Management Inc. acquired a new position in Viper Energy Partners during the 3rd quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its position in Viper Energy Partners by 92.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,885 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 908 shares during the period. Dark Forest Capital Management LP acquired a new position in Viper Energy Partners during the 3rd quarter valued at about $43,000. Citigroup Inc. lifted its position in Viper Energy Partners by 30.6% during the 3rd quarter. Citigroup Inc. now owns 3,919 shares of the oil and gas producer’s stock valued at $86,000 after purchasing an additional 919 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Viper Energy Partners by 115.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,804 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 3,643 shares during the period. Institutional investors own 37.86% of the company’s stock.

Viper Energy Partners Company Profile

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.

Read More: Penny Stocks, Risk and Reward Factors

The Fly logo

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

Receive News & Ratings for Viper Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viper Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.