Shares of Viper Energy Partners LP (NASDAQ: VNOM) were downgraded by analysts at Zacks Investment Research in a note to their investors today. Zacks Investment Research currently has a rating of Hold on the stock. A number of other analysts have spoken on the stock recently, and Viper Energy Partners LP has secured a consensus one-year price target of $21.25, above the opening price of $16.09, a difference of 13.05 percent. Viper Energy Partners LP stock has a 52-week high of $20.25. Material and major digressions in the company’s actions, future outlook or industry can cause downgrades as the analysts consider that the future prospects for the security have dropped from the original recommendation.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Viper Energy Partners LP (NASDAQ: VNOM) opened at $16.09 yesterday trading between $15.96 and $16.33, and last traded at $16.28, an increase of $0.25 from the previous closing price.
Viper Energy Partners LP (NASDAQ: VNOM) currently has a market cap of 1.41B.
The stock’s average daily volume is 112,906 shares out of a total float 14,924,000 and some 53,241 shares traded hands yesterday, below the norm. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to pinpoint substantial volume aggregation or distribution by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Viper Energy Partners LP (NASDAQ: VNOM) now has a 50-day MA of $16.45 and 200-day MA of $17.65. It has traded in a 52-week range between $12.69 – 20.25 and today’s last price is 0.20% lower than the 52 week high of $20.25.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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