FY2018 EPS Estimates for Viper Energy Partners LP (VNOM) Reduced by SunTrust Banks
Viper Energy Partners LP (NASDAQ:VNOM) – Equities research analysts at SunTrust Banks dropped their FY2018 earnings per share estimates for Viper Energy Partners in a research report issued on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will earn $1.30 per share for the year, down from their prior forecast of $1.48. SunTrust Banks currently has a “Buy” rating and a $32.00 target price on the stock. SunTrust Banks also issued estimates for Viper Energy Partners’ FY2019 earnings at $1.69 EPS and FY2020 earnings at $1.98 EPS.
Several other analysts have also recently issued reports on the stock. Barclays set a $20.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Monday, October 16th. Citigroup boosted their price objective on shares of Viper Energy Partners from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Northland Securities set a $24.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Monday, November 13th. Zacks Investment Research cut shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, BidaskClub raised shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Viper Energy Partners currently has an average rating of “Buy” and an average price target of $25.64.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, February 6th. The oil and gas producer reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The firm had revenue of $59.20 million during the quarter, compared to analysts’ expectations of $51.28 million. Viper Energy Partners had a net margin of 64.80% and a return on equity of 13.92%. Viper Energy Partners’s revenue for the quarter was up 112.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS.
Several large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Viper Energy Partners by 9.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock valued at $310,000 after acquiring an additional 1,726 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Viper Energy Partners by 940.0% during the 4th quarter. Thompson Davis & CO. Inc. now owns 5,200 shares of the oil and gas producer’s stock valued at $121,000 after acquiring an additional 4,700 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Viper Energy Partners during the 3rd quarter valued at $106,000. Virtu KCG Holdings LLC lifted its holdings in shares of Viper Energy Partners by 77.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after acquiring an additional 8,357 shares in the last quarter. Finally, Investment House LLC acquired a new position in shares of Viper Energy Partners during the 4th quarter valued at $223,000. Institutional investors and hedge funds own 25.96% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 19th will be issued a dividend of $0.46 per share. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.84 annualized dividend and a dividend yield of 7.89%. Viper Energy Partners’s payout ratio is presently 127.36%.
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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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