Viper Energy Partners LP (NASDAQ:VNOM) Expected to Post Quarterly Sales of $97.47 Million

Analysts expect Viper Energy Partners LP (NASDAQ:VNOM) to report sales of $97.47 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Viper Energy Partners’ earnings, with the highest sales estimate coming in at $113.00 million and the lowest estimate coming in at $91.00 million. Viper Energy Partners reported sales of $62.94 million in the same quarter last year, which indicates a positive year over year growth rate of 54.9%. The firm is expected to issue its next earnings report on Monday, November 1st.

According to Zacks, analysts expect that Viper Energy Partners will report full year sales of $387.75 million for the current fiscal year, with estimates ranging from $343.00 million to $446.00 million. For the next year, analysts anticipate that the firm will report sales of $491.86 million, with estimates ranging from $441.00 million to $559.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Viper Energy Partners.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Sunday, August 1st. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $114.20 million for the quarter, compared to analysts’ expectations of $88.83 million. Viper Energy Partners had a negative net margin of 7.63% and a positive return on equity of 0.44%. The firm’s quarterly revenue was up 249.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share.

Several analysts have weighed in on VNOM shares. Raymond James boosted their target price on shares of Viper Energy Partners from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, August 12th. Citigroup upped their price target on shares of Viper Energy Partners from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, July 21st. Finally, Barclays upped their price target on shares of Viper Energy Partners from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.78.

VNOM stock traded up $0.89 during trading on Friday, hitting $19.95. 7,371 shares of the company’s stock traded hands, compared to its average volume of 519,503. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. Viper Energy Partners has a 52 week low of $6.52 and a 52 week high of $20.09. The stock has a fifty day moving average price of $17.98 and a two-hundred day moving average price of $17.63. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -49.58 and a beta of 2.80.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 12th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Wednesday, August 11th. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.25. Viper Energy Partners’s payout ratio is 471.43%.

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Viper Energy Partners by 1,513.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,319,586 shares of the oil and gas producer’s stock valued at $19,214,000 after buying an additional 1,237,787 shares in the last quarter. Advisory Research Inc. increased its stake in shares of Viper Energy Partners by 26.7% in the first quarter. Advisory Research Inc. now owns 995,097 shares of the oil and gas producer’s stock valued at $14,489,000 after buying an additional 210,008 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Viper Energy Partners during the first quarter worth approximately $29,254,000. Credit Suisse AG grew its stake in Viper Energy Partners by 53.9% during the first quarter. Credit Suisse AG now owns 32,897 shares of the oil and gas producer’s stock worth $478,000 after purchasing an additional 11,523 shares during the period. Finally, Morgan Stanley boosted its holdings in Viper Energy Partners by 76.2% in the first quarter. Morgan Stanley now owns 1,177,661 shares of the oil and gas producer’s stock worth $17,147,000 after acquiring an additional 509,193 shares in the last quarter. 30.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Viper Energy Partners (NASDAQ:VNOM)

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