|Over a week ago|
Viper Energy reports Q1 2021 average production of 15,500 bo/d » 16:0804/1204/12/21
Viper Energy Partners…
Viper Energy Partners provided an operational update for the first quarter ended March 31. Q1 average production of 15,500 bo/d, 26,066 boe/d. 134 gross horizontal wells turned to production on Viper's acreage during Q1 with an average lateral length of 10,584 feet; Diamondback is the operator of 50 gross of the total wells turned to productionQ1. unhedged realized prices of $56.16 per barrel of oil, $22.42 per barrel of natural gas liquids and $2.77 per Mcf of natural gas, resulting in a total equivalent price of $41.14 per boe Q1 2021 hedged realized prices of $45.45 per barrel of oil, $22.42 per barrel of natural gas liquids and $2.77 per Mcf of natural gas, resulting in a total equivalent price of $34.77 per boe. Repurchased 869,965 common units in Q1 for an aggregate of $13M. "Despite the adversity presented by Winter Storm Uri in February, Viper produced a strong first quarter as production fully returned from the negative impacts of the severe weather and Diamondback quickly resumed completion operations. We expect production to remain strong throughout the remainder of 2021, particularly in the back half of the year, as Diamondback plans to complete more wells with a higher interest net to Viper and third-party activity is expected to continue to strengthen relative to the levels experienced over the past several quarters," stated Travis Stice, Chief Executive Officer of Viper's general partner.
Fly Intel: Top five analyst upgrades » 09:5304/0804/08/21
TXT, MSM, VNOM, BSIG, BILI
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Textron (TXT) upgraded to Buy from Neutral at Goldman Sachs with analyst Noah Poponak saying leading indicators in the business jet market have improved, especially in Textron's aircraft categories and for Cessna aircraft specifically. 2. MSC Industrial (MSM) upgraded to Overweight from Equal Weight at Wells Fargo and upgraded to Outperform from Market Perform at William Blair following Q2 results. 3. Viper Energy (VNOM) upgraded to Overweight from Neutral at Piper Sandler with analyst Pearce Hammond believing the recent 20% decline in the share price provides an attractive entry point. 4. BrightSphere (BSIG) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Michael Cyprys saying the company's pace of execution on strategic alternatives has accelerated with the recent announced sales of Landmark and ICM expected to close in Q2, seeing the company building "a substantial $1B cash pile pro forma" that he expects to be put towards meaningful share repurchases. 5. Bilibili (BILI) upgraded to Outperform from Neutral at Credit Suisse with analyst Kenneth Fong saying despite Bilibili's recent share price correction, the analyst sees little change in the fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Viper Energy upgraded to Overweight from Neutral at Piper Sandler » 06:0404/0804/08/21
Piper Sandler analyst…
Piper Sandler analyst Pearce Hammond upgraded Viper Energy to Overweight from Neutral with a price target of $17, up from $16. The analyst believes the recent 20% decline in the share price provides an attractive entry point. Viper has "excellent visibility on activity" and its below market hedges roll off this year, Hammond tells investors in a research note.
Viper Energy upgraded to Overweight from Neutral at Simmons » 16:5804/0704/07/21
Simmons analyst Pearce…
Simmons analyst Pearce Hammond upgraded Viper Energy to Overweight from Neutral.
|Over a month ago|
Fly Intel: After-Hours Movers » 18:0802/2202/22/21
EVER, ZI, FIVN, CDNS, LSI, BCC, RVNC, HSII, EXR, MRO, RSG, DDS, AL, FREQ, NLS, REAL, GDOT, TREX, VNOM, FANG, RIG, OKE, FRPT, NHI, PAVM, CCL
Check out this evening's…
Viper Energy reports Q4 EPS (41c), consensus (1c) » 16:1302/2202/22/21
As of December 31, 2020,…
As of December 31, 2020, the Company had a cash balance of $19.1 million. During the fourth quarter of 2020, Viper repaid $42.5 million of outstanding borrowings under its revolving credit facility and, as of December 31, 2020, had $496.0 million available for borrowing under this facility. Since the end of the first quarter of 2020, Viper reduced total debt by $109.6 million, or a 16% reduction over this time period.
|Over a quarter ago|
Viper Energy upgraded to Buy from Hold at Truist » 07:0212/0412/04/20
Truist analyst Neal…
Truist analyst Neal Dingmann upgraded Viper Energy to Buy from Hold with a price target of $16, up from $8. The analyst is positive on the company's position as a "large underlying operator" who will ensure that volumes continue to increase with higher prices and "virtually no costs." Dingmann adds that the share buyback program that has helped boost shares recently should largely conclude soon, with funds becoming available for other internal or external options that would improve cash flows.
Viper Energy upgraded to Buy from Hold at Truist » 05:2512/0412/04/20
Truist analyst Neal…
Truist analyst Neal Dingmann upgraded Viper Energy Partners to Buy from Hold with a $16 price target.
Viper Energy sees Q4 net production 15.25 - 16.25 - MBo/d 16:1211/0211/02/20
Viper Energy reports 3Q EPS (1c), consensus (4c) » 16:1111/0211/02/20
Viper's third quarter 2020 average unhedged realized prices were $36.80 per barrel of oil, $1.07 per Mcf of natural gas and $12.44 per barrel of natural gas liquids, resulting in a total equivalent realized price of $25.76/boe. During the third quarter of 2020, the Company recorded total operating income of $62.9 million and consolidated net income (including non-controlling interest) of $16.2 million."The advantaged nature of the royalty business model with no required capital expenditures and only minimal operating expenditures, further enhanced by Viper's best-in-class cost structure, has been highlighted during this severe industry downturn as Viper has been able to reduce total debt by 10% in just the past six months. As a direct result of this, and because of our confidence in the expected free cash flow to be generated in our forward outlook, the Board has elected to increase our distribution for the third quarter to 50% of our total cash available for distribution, up from 25% previously. With a currently anticipated forward free cash flow yield of greater than 15%, due primarily to Diamondback's expected development plan and benefiting from punitive hedges rolling off in 2021, we look forward to continuing to increase our return of capital to unitholders over the coming quarters."