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Viper Energy (VNOM) Raises Unit Buyback Plan Authorization
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Viper Energy Partners LP (VNOM - Free Report) announced that the board of directors of its General Partner has recently raised the authorized amount of its common unit repurchase program to $150 million.
Viper Energy Partners intends to employ its cash on hand, free operating cashflows and proceeds from assets divestments for repurchasing units under the buyback program. VNOM added that the authorization has been extended indefinitely. Viper Energy Partners also recently rewarded unitholders by increasing cash distribution. VNOM increased cash distribution sequentially by 15% to 38 cents per unit. This reflects VNOM's strong focus on returning capital to unit holders. Banking on its strong operations, VNOM is also focusing on reducing debt load.
An improving crude pricing environment is strengthening Viper Energy Partners’ upstream business outlook. This is because VNOM has 26,681 net royalty acres in the core of the prolific Permian Basin and Eagle Ford Shale. To bank on recovering commodity price, Viper Energy Partners has raised its production guidance for 2021 to 27.25–27.75 thousand barrels of oil equivalent per day (MBoe/D) from the prior projection of 26.25–27.00 MBoe/D.
Currently, Viper Energy Partners carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector include Whiting Petroleum Corporation , Continental Resources, Inc. and Callon Petroleum Company . While Continental Resources carries a Zacks Rank #2 (Buy), Whiting Petroleum and Callon Petroleum sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to continue generating handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 179.4% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
Continental Resources is also a leading upstream energy company with proven reserves in North Dakota and Oklahoma. The oil inventories of Continental Resources are among the best in the industry.
Headquartered in Oklahoma City, Continental Resources has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Considering the price chart, CLR has gained 191.5% so far this year, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise the Permian Basin and Eagle Ford Shale play.
CPE has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 384.2% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
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Viper Energy (VNOM) Raises Unit Buyback Plan Authorization
Viper Energy Partners LP (VNOM - Free Report) announced that the board of directors of its General Partner has recently raised the authorized amount of its common unit repurchase program to $150 million.
Viper Energy Partners intends to employ its cash on hand, free operating cashflows and proceeds from assets divestments for repurchasing units under the buyback program. VNOM added that the authorization has been extended indefinitely. Viper Energy Partners also recently rewarded unitholders by increasing cash distribution. VNOM increased cash distribution sequentially by 15% to 38 cents per unit. This reflects VNOM's strong focus on returning capital to unit holders. Banking on its strong operations, VNOM is also focusing on reducing debt load.
An improving crude pricing environment is strengthening Viper Energy Partners’ upstream business outlook. This is because VNOM has 26,681 net royalty acres in the core of the prolific Permian Basin and Eagle Ford Shale. To bank on recovering commodity price, Viper Energy Partners has raised its production guidance for 2021 to 27.25–27.75 thousand barrels of oil equivalent per day (MBoe/D) from the prior projection of 26.25–27.00 MBoe/D.
Viper Energy Partners LP Price
Viper Energy Partners LP price | Viper Energy Partners LP Quote
Currently, Viper Energy Partners carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy sector include Whiting Petroleum Corporation , Continental Resources, Inc. and Callon Petroleum Company . While Continental Resources carries a Zacks Rank #2 (Buy), Whiting Petroleum and Callon Petroleum sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to continue generating handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 179.4% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
Continental Resources is also a leading upstream energy company with proven reserves in North Dakota and Oklahoma. The oil inventories of Continental Resources are among the best in the industry.
Headquartered in Oklahoma City, Continental Resources has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Considering the price chart, CLR has gained 191.5% so far this year, outpacing the 112.6% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise the Permian Basin and Eagle Ford Shale play.
CPE has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 384.2% year to date, outpacing the 112.6% improvement of the composite stocks belonging to the industry.