UBS upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a neutral rating to a buy rating in a research note published on Tuesday, December 5th, 99wallstreet.com reports. They currently have $27.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $19.00.
A number of other brokerages also recently weighed in on VNOM. Zacks Investment Research downgraded shares of Viper Energy Partners from a buy rating to a hold rating in a research report on Tuesday, November 14th. Northland Securities reissued a buy rating and set a $24.00 target price on shares of Viper Energy Partners in a research note on Tuesday, September 5th. SunTrust Banks started coverage on shares of Viper Energy Partners in a research note on Wednesday, November 29th. They set a buy rating for the company. Stifel Nicolaus reissued a buy rating and set a $20.00 target price on shares of Viper Energy Partners in a research note on Sunday, September 10th. Finally, Imperial Capital reaffirmed an in-line rating and set a $23.00 price objective (up previously from $21.00) on shares of Viper Energy Partners in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $22.55.
Viper Energy Partners (NASDAQ VNOM) traded down $0.45 during trading hours on Tuesday, hitting $21.70. 1,360,000 shares of the stock traded hands, compared to its average volume of 248,830. The firm has a market capitalization of $2,471.24, a P/E ratio of 24.66, a P/E/G ratio of 1.50 and a beta of 1.06. Viper Energy Partners has a 1-year low of $14.76 and a 1-year high of $22.66. The company has a quick ratio of 8.92, a current ratio of 8.92 and a debt-to-equity ratio of 0.04.
Viper Energy Partners (NASDAQ:VNOM) last posted its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $42.21 million during the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The firm’s quarterly revenue was up 111.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. research analysts forecast that Viper Energy Partners will post 0.96 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in VNOM. Geode Capital Management LLC lifted its holdings in Viper Energy Partners by 33.3% during the 1st quarter. Geode Capital Management LLC now owns 55,295 shares of the oil and gas producer’s stock worth $994,000 after buying an additional 13,809 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Viper Energy Partners during the 1st quarter worth approximately $281,000. Credit Suisse AG acquired a new stake in Viper Energy Partners during the 1st quarter worth approximately $270,000. Creative Planning increased its position in shares of Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after purchasing an additional 12,155 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Viper Energy Partners by 54.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock valued at $15,069,000 after purchasing an additional 338,500 shares during the last quarter. Institutional investors own 27.14% of the company’s stock.
About Viper Energy Partners
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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