Viper Energy Partners (NASDAQ:VNOM) Price Target Raised to $36.00 at Stifel Nicolaus

Viper Energy Partners (NASDAQ:VNOM) had its target price raised by research analysts at Stifel Nicolaus from $32.00 to $36.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.96% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of 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. Northland Securities reissued a “buy” rating and set a $38.00 target price on shares of Viper Energy Partners in a research note on Wednesday, May 1st. Capital One Financial assumed coverage on shares of Viper Energy Partners in a research note on Tuesday, July 2nd. They issued an “overweight” rating and a $37.00 price objective for the company. TheStreet raised shares of Viper Energy Partners from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. Finally, BidaskClub lowered shares of Viper Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, July 26th. One 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 company has an average rating of “Buy” and an average target price of $41.06.

Shares of NASDAQ:VNOM traded up $0.04 during trading on Thursday, reaching $31.59. 420,474 shares of the company traded hands, compared to its average volume of 334,416. The company has a fifty day simple moving average of $30.07. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 29.25 and a beta of 1.35. Viper Energy Partners has a 1-year low of $22.76 and a 1-year high of $44.00. The company has a current ratio of 20.09, a quick ratio of 20.09 and a debt-to-equity ratio of 0.10.

Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $72.19 million for the quarter, compared to analyst estimates of $69.49 million. Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.64%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. As a group, research analysts anticipate that Viper Energy Partners will post 0.36 EPS for the current fiscal year.

In related news, President Hof Matthew Kaes Van’t sold 2,500 shares of Viper Energy Partners stock in a transaction on Tuesday, May 7th. The shares were 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 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 SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in VNOM. Eagle Asset Management Inc. raised its holdings in 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 worth $86,412,000 after acquiring an additional 1,167,173 shares during the period. Carillon Tower Advisers Inc. raised its holdings in 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 worth $63,448,000 after acquiring an additional 963,271 shares during the period. FMR LLC raised its holdings in 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 worth $136,522,000 after acquiring an additional 528,497 shares during the period. HITE Hedge Asset Management LLC raised its holdings in 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 worth $73,864,000 after acquiring an additional 492,217 shares during the period. Finally, Emerald Advisers LLC raised its holdings in Viper Energy Partners by 2,774.2% in the 1st quarter. Emerald Advisers LLC now owns 418,449 shares of the oil and gas producer’s stock worth $13,876,000 after acquiring an additional 403,890 shares during the period. Hedge funds and other institutional investors own 38.91% of the company’s stock.

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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