Viper Energy Partners LP (NASDAQ:VNOM) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Tuesday, November 7th will be given a dividend of 0.337 per share by the oil and gas producer on Tuesday, November 14th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend is Monday, November 6th. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.33.
Viper Energy Partners (NASDAQ VNOM) opened at 19.60 on Wednesday. Viper Energy Partners has a 52 week low of $13.53 and a 52 week high of $19.83. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 25.93 and a beta of 0.99. The firm has a 50-day moving average of $18.56 and a 200 day moving average of $17.29.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The business had revenue of $42.21 million during the quarter, compared to the consensus estimate of $40.88 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was up 111.2% on a year-over-year basis. On average, analysts anticipate that Viper Energy Partners will post $0.95 EPS for the current year.
Several equities analysts recently issued reports on the stock. Mizuho upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 23rd. Barclays PLC set a $20.00 price target on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. UBS AG initiated coverage on shares of Viper Energy Partners in a research note on Monday, October 2nd. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Viper Energy Partners has an average rating of “Buy” and an average target price of $21.45.
In related news, Director Michael L. Hollis bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $16.07 per share, with a total value of $40,175.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Viper Energy Partners Company Profile
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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