Barclays assumed coverage on shares of Viper Energy Partners (NASDAQ:VNOM) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $44.00 price objective on the oil and gas producer’s stock.
Several other research analysts also recently commented on VNOM. Zacks Investment Research downgraded Viper Energy Partners from a hold rating to a strong sell rating in a research note on Saturday, January 26th. BidaskClub downgraded Viper Energy Partners from a hold rating to a sell rating in a research note on Wednesday, May 1st. Northland Securities reissued a buy rating and set a $38.00 target price on shares of Viper Energy Partners in a research note on Wednesday, May 1st. ValuEngine downgraded Viper Energy Partners from a strong-buy rating to a buy rating in a research note on Friday, May 3rd. Finally, TD Securities lifted their target price on Viper Energy Partners from $44.00 to $45.00 and gave the company a buy rating in a research note on Thursday, February 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Viper Energy Partners currently has an average rating of Buy and an average target price of $42.21.
Shares of NASDAQ:VNOM opened at $31.34 on Monday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 29.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 20.09 and a current ratio of 20.09. Viper Energy Partners has a 52-week low of $22.76 and a 52-week high of $44.00.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, May 10th. Viper Energy Partners’s dividend payout ratio (DPR) is 188.89%.
In related news, President Hof Matthew Kaes Van’t sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $31.65, for a total transaction of $79,125.00. Following the completion of the transaction, the president now owns 42,124 shares in the company, valued at approximately $1,333,224.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Man Group plc purchased a new position in Viper Energy Partners during the 3rd quarter valued at $583,000. CI Investments Inc. purchased a new position in Viper Energy Partners during the 4th quarter valued at $37,850,000. Spirit of America Management Corp NY boosted its holdings in Viper Energy Partners by 6.8% during the 1st quarter. Spirit of America Management Corp NY now owns 409,746 shares of the oil and gas producer’s stock valued at $13,587,000 after acquiring an additional 26,157 shares during the period. Dividend Assets Capital LLC boosted its holdings in Viper Energy Partners by 2.1% during the 4th quarter. Dividend Assets Capital LLC now owns 226,466 shares of the oil and gas producer’s stock valued at $5,897,000 after acquiring an additional 4,652 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Viper Energy Partners by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,064,741 shares of the oil and gas producer’s stock valued at $44,825,000 after acquiring an additional 167,826 shares during the period. Institutional investors own 32.27% of the company’s stock.
Viper Energy Partners Company Profile
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.
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