SunTrust Banks Increases Viper Energy Partners (NASDAQ:VNOM) Price Target to $45.00

Viper Energy Partners (NASDAQ:VNOM) had its target price boosted by stock analysts at SunTrust Banks to $45.00 in a research report issued on Monday, August 6th, The Fly reports. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. SunTrust Banks’ price target would suggest a potential upside of 15.65% from the company’s previous close.

A number of other equities analysts have also commented on the company. Citigroup boosted their price objective on Viper Energy Partners from $29.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $33.00 price target on shares of Viper Energy Partners in a research note on Wednesday, April 18th. Stifel Nicolaus lowered Viper Energy Partners from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Monday, June 4th. BidaskClub raised Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 23rd. Finally, TD Securities initiated coverage on Viper Energy Partners in a research note on Thursday, July 5th. They set a “buy” rating and a $38.00 price target on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.64.

Viper Energy Partners stock traded down $1.00 on Monday, reaching $38.91. The company’s stock had a trading volume of 539,400 shares, compared to its average volume of 667,535. The company has a debt-to-equity ratio of 0.36, a quick ratio of 23.74 and a current ratio of 23.74. The firm has a market cap of $4.94 billion, a P/E ratio of 36.36 and a beta of 0.90. Viper Energy Partners has a twelve month low of $16.43 and a twelve month high of $40.48.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.33. The company had revenue of $75.41 million for the quarter, compared to analyst estimates of $70.06 million. Viper Energy Partners had a return on equity of 14.66% and a net margin of 88.05%. The business’s revenue was up 106.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. equities research analysts predict that Viper Energy Partners will post 1.63 earnings per share for the current year.

In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 7,615 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $38.58, for a total value of $293,786.70. Following the transaction, the president now owns 64,873 shares of the company’s stock, valued at $2,502,800.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in VNOM. Geode Capital Management LLC lifted its stake in Viper Energy Partners by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 79,384 shares of the oil and gas producer’s stock valued at $1,852,000 after buying an additional 3,361 shares during the period. Renaissance Technologies LLC lifted its stake in Viper Energy Partners by 57.7% in the fourth quarter. Renaissance Technologies LLC now owns 251,200 shares of the oil and gas producer’s stock valued at $5,860,000 after buying an additional 91,900 shares during the period. Guggenheim Capital LLC lifted its stake in Viper Energy Partners by 30.8% in the fourth quarter. Guggenheim Capital LLC now owns 121,588 shares of the oil and gas producer’s stock valued at $2,837,000 after buying an additional 28,617 shares during the period. Wells Fargo & Company MN lifted its stake in Viper Energy Partners by 10.2% in the first quarter. Wells Fargo & Company MN now owns 603,921 shares of the oil and gas producer’s stock valued at $15,346,000 after buying an additional 55,829 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of Viper Energy Partners by 259.5% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 7,550 shares of the oil and gas producer’s stock worth $192,000 after acquiring an additional 5,450 shares in the last quarter. 25.25% of the stock is currently owned by hedge funds and other institutional investors.

About Viper Energy Partners

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

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