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

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

Several other research analysts also recently commented on the company. Stifel Nicolaus lifted their target price on Viper Energy Partners from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada began coverage on Viper Energy Partners in a research note on Thursday, April 18th. They set an “outperform” rating and a $43.00 target price for the company. Evercore ISI began coverage on Viper Energy Partners in a research note on Tuesday. They set an “outperform” rating and a $38.00 target price for the company. TheStreet upgraded Viper Energy Partners from a “c+” rating to a “b” rating in a research note on Wednesday, May 1st. Finally, Stephens set a $46.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.06.

Shares of NASDAQ VNOM traded up $0.04 during midday trading on Thursday, hitting $31.59. 420,474 shares of the company’s stock were exchanged, compared to its average volume of 334,416. The company has a quick ratio of 20.09, a current ratio of 20.09 and a debt-to-equity ratio of 0.10. Viper Energy Partners has a 12 month low of $22.76 and a 12 month high of $44.00. The business has a 50 day moving average of $30.07. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 29.25 and a beta of 1.35.

Viper Energy Partners (NASDAQ:VNOM) last issued 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 0.64% and a net margin of 13.18%. The business had revenue of $72.19 million for the quarter, compared to the consensus estimate of $69.49 million. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast 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 the business’s stock in a transaction on 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 in the company, valued at approximately $1,333,224.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in VNOM. Envestnet Asset Management Inc. raised its stake in shares of Viper Energy Partners by 6.8% in the second quarter. Envestnet Asset Management Inc. now owns 8,577 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 545 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Viper Energy Partners in the second quarter worth approximately $210,000. Emerald Mutual Fund Advisers Trust raised its stake in shares of Viper Energy Partners by 8.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 335,520 shares of the oil and gas producer’s stock worth $10,341,000 after purchasing an additional 27,050 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Viper Energy Partners by 23.3% in the second quarter. Emerald Advisers LLC now owns 515,962 shares of the oil and gas producer’s stock worth $15,902,000 after purchasing an additional 97,513 shares during the last quarter. Finally, Lee Financial Co raised its stake in shares of Viper Energy Partners by 13.9% in the second quarter. Lee Financial Co now owns 30,675 shares of the oil and gas producer’s stock worth $945,000 after purchasing an additional 3,750 shares during the last quarter. 38.91% of the stock is owned by hedge funds and other institutional investors.

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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