Fintel reports that on September 6, 2023, Raymond James maintained coverage of Viper Energy Partners LP - Unit (NASDAQ:VNOM) with a Outperform recommendation.
Analyst Price Forecast Suggests 26.19% Upside
As of August 31, 2023, the average one-year price target for Viper Energy Partners LP - Unit is 35.98. The forecasts range from a low of 30.30 to a high of $47.25. The average price target represents an increase of 26.19% from its latest reported closing price of 28.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Viper Energy Partners LP - Unit is 803MM, an increase of 11.97%. The projected annual non-GAAP EPS is 2.13.
Viper Energy Partners LP - Unit Declares $0.27 Dividend
On July 31, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of August 10, 2023 received the payment on August 17, 2023. Previously, the company paid $0.25 per share.
At the current share price of $28.51 / share, the stock's dividend yield is 3.79%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.05%, the lowest has been 2.24%, and the highest has been 33.98%. The standard deviation of yields is 5.41 (n=236).
The current dividend yield is 0.97 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.91. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 292 funds or institutions reporting positions in Viper Energy Partners LP - Unit. This is a decrease of 20 owner(s) or 6.41% in the last quarter. Average portfolio weight of all funds dedicated to VNOM is 0.29%, an increase of 0.51%. Total shares owned by institutions increased in the last three months by 0.59% to 70,484K shares. 
The put/call ratio of VNOM is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 11,413K shares representing 16.10% ownership of the company. In it's prior filing, the firm reported owning 11,462K shares, representing a decrease of 0.43%. The firm decreased its portfolio allocation in VNOM by 8.95% over the last quarter.
Blackstone Group holds 7,002K shares representing 9.88% ownership of the company. In it's prior filing, the firm reported owning 9,842K shares, representing a decrease of 40.56%. The firm decreased its portfolio allocation in VNOM by 2.37% over the last quarter.
Capital World Investors holds 4,717K shares representing 6.65% ownership of the company. In it's prior filing, the firm reported owning 1,455K shares, representing an increase of 69.16%. The firm increased its portfolio allocation in VNOM by 189.09% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 3,633K shares representing 5.12% ownership of the company. In it's prior filing, the firm reported owning 3,144K shares, representing an increase of 13.45%. The firm increased its portfolio allocation in VNOM by 11.78% over the last quarter.
ANEFX - NEW ECONOMY FUND holds 3,215K shares representing 4.53% ownership of the company.
Viper Energy Partners Background Information
(This description is provided by the company.)
Viper is a limited partnership formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on oil-weighted basins, primarily the Permian Basin in West Texas.
Additional reading:
- Viper Energy Partners LP Condensed Consolidated Balance Sheets (unaudited, in thousands, except unit amounts) June 30, December 31, 2023 2022 Assets Current assets: Cash and cash equivalents $ 13,079 $ 18,179 Royalty income receivable (net of allowan
- VIPER ENERGY PARTNERS LP, A SUBSIDIARY OF DIAMONDBACK ENERGY, INC., ANNOUNCES INTENT TO CONVERT INTO CORPORATE STRUCTURE
- Tenth Amendment to Amended and Restated Senior Secured Revolving Credit Agreement and Second Amendment to Guaranty and Collateral Agreement, dated as of May 31, 2023, by and among Viper Energy Partners LLC, as borrower, Viper Energy Partners LP, as parent guarantor, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto (incorporated by reference to Exhibit 10.1 of the Partnership's Current Report on Form 8-K (File No. 001-36505) filed on June 6, 2023).
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