Viper Energy Partners (NASDAQ:VNOM) Upgraded to “Strong-Buy” by ValuEngine

Viper Energy Partners (NASDAQ:VNOM) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other research analysts have also recently commented on the company. Zacks Investment Research raised Viper Energy Partners from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, April 12th. Capital One Financial started coverage on Viper Energy Partners in a report on Tuesday, July 2nd. They set an “overweight” rating and a $37.00 price target for the company. Northland Securities reaffirmed a “buy” rating and set a $38.00 price target on shares of Viper Energy Partners in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Viper Energy Partners from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BidaskClub downgraded Viper Energy Partners from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.06.

VNOM traded down $0.71 on Thursday, hitting $31.55. 685,686 shares of the company were exchanged, compared to its average volume of 489,210. Viper Energy Partners has a twelve month low of $22.76 and a twelve month high of $44.00. The stock has a market capitalization of $3.99 billion, a P/E ratio of 29.21 and a beta of 1.38. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $29.99.

Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). Viper Energy Partners had a return on equity of 2.33% and a net margin of 46.62%. The company had revenue of $72.19 million for the quarter, compared to analyst estimates of $69.49 million. During the same period in the previous year, the firm earned $1.35 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts forecast that Viper Energy Partners will post 0.36 earnings per share for the current fiscal year.

In other news, President Hof Matthew Kaes Van’t sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $31.65, for a total value of $79,125.00. Following the completion of the sale, the president now directly owns 42,124 shares of the company’s stock, valued at approximately $1,333,224.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Viper Energy Partners by 14.7% in the 1st quarter. FMR LLC now owns 4,117,055 shares of the oil and gas producer’s stock valued at $136,522,000 after purchasing an additional 528,497 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Viper Energy Partners by 81.1% in the 1st quarter. Eagle Asset Management Inc. now owns 2,605,921 shares of the oil and gas producer’s stock valued at $86,412,000 after purchasing an additional 1,167,173 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Viper Energy Partners by 28.4% in the 1st quarter. HITE Hedge Asset Management LLC now owns 2,227,512 shares of the oil and gas producer’s stock valued at $73,864,000 after purchasing an additional 492,217 shares during the last quarter. Carillon Tower Advisers Inc. lifted its holdings in shares of Viper Energy Partners by 101.4% in the 1st quarter. Carillon Tower Advisers Inc. now owns 1,913,390 shares of the oil and gas producer’s stock valued at $63,448,000 after purchasing an additional 963,271 shares during the last quarter. Finally, Williams Jones & Associates LLC lifted its holdings in shares of Viper Energy Partners by 62.1% in the 1st quarter. Williams Jones & Associates LLC now owns 564,063 shares of the oil and gas producer’s stock valued at $18,704,000 after purchasing an additional 216,155 shares during the last quarter. 38.91% of the stock is owned by institutional investors and hedge funds.

Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.

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Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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