Viper Energy Partners (NASDAQ:VNOM) Hits New 52-Week High Following Analyst Upgrade

Viper Energy Partners LP (NASDAQ:VNOMGet Rating) shares hit a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $40.00 to $45.00. The stock traded as high as $32.35 and last traded at $32.02, with a volume of 676 shares trading hands. The stock had previously closed at $31.98.

VNOM has been the topic of several other reports. Zacks Investment Research upgraded Viper Energy Partners from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research note on Wednesday, March 16th. KeyCorp raised their price target on Viper Energy Partners from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Wells Fargo & Company lifted their target price on Viper Energy Partners from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 25th. Raymond James boosted their price objective on Viper Energy Partners from $29.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Finally, Piper Sandler raised their price objective 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 equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $32.44.

In other Viper Energy Partners news, major shareholder Holdings L.P. Blackstone III sold 5,643 shares of the stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $32.13, for a total value of $181,309.59. Following the sale, the insider now owns 12,525,988 shares in the company, valued at $402,459,994.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Guidon Topco Llc sold 22,593 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $30.12, for a total value of $680,501.16. The disclosure for this sale can be found here. Insiders have sold a total of 831,436 shares of company stock valued at $24,701,964 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Dark Forest Capital Management LP purchased a new position in shares of Viper Energy Partners during the third quarter valued at $43,000. Citigroup Inc. increased its stake in shares of Viper Energy Partners by 30.6% during the third quarter. Citigroup Inc. now owns 3,919 shares of the oil and gas producer’s stock valued at $86,000 after buying an additional 919 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Viper Energy Partners by 14.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,266 shares of the oil and gas producer’s stock valued at $133,000 after buying an additional 788 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of Viper Energy Partners during the fourth quarter valued at $138,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Viper Energy Partners during the third quarter valued at $207,000. Hedge funds and other institutional investors own 37.94% of the company’s stock.

The business has a 50-day moving average of $29.54 and a two-hundred day moving average of $25.71. The company has a market cap of $5.06 billion, a P/E ratio of 38.65 and a beta of 2.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.54 and a quick ratio of 4.54.

Viper Energy Partners (NASDAQ:VNOMGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.17. Viper Energy Partners had a return on equity of 2.21% and a net margin of 11.48%. The company had revenue of $165.79 million for the quarter, compared to the consensus estimate of $125.77 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 117.2% compared to the same quarter last year. Equities analysts anticipate that Viper Energy Partners LP will post 1.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Friday, March 4th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 6.24%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.38. Viper Energy Partners’s dividend payout ratio (DPR) is presently 241.03%.

Viper Energy Partners Company Profile (NASDAQ:VNOM)

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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