Zacks Investment Research upgraded shares of Viper Energy Partners (NASDAQ:VNOM) from a hold rating to a strong-buy rating in a report issued on Wednesday, December 27th. They currently have $26.00 target price on the oil and gas producer’s stock.
According to Zacks, “Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties primarily in North America. It focuses on developing mineral interests in the Permian Basin in West Texas. Viper Energy Partners LP is based in Midland, Texas. “
Several other equities analysts have also recently weighed in on the stock. Imperial Capital set a $27.00 price objective on shares of Viper Energy Partners and gave the stock a buy rating in a research report on Tuesday, December 19th. BidaskClub raised shares of Viper Energy Partners from a buy rating to a strong-buy rating in a research note on Friday, December 15th. Credit Suisse Group initiated coverage on shares of Viper Energy Partners in a research note on Monday, December 11th. They set an outperform rating and a $25.00 target price for the company. UBS Group raised shares of Viper Energy Partners from a neutral rating to a buy rating and lifted their target price for the company from $19.00 to $27.00 in a research note on Tuesday, December 5th. Finally, SunTrust Banks initiated coverage on shares of Viper Energy Partners in a research note on Wednesday, November 29th. They set a buy rating for the company. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $23.36.
Viper Energy Partners (VNOM) opened at $23.93 on Wednesday. Viper Energy Partners has a 12-month low of $14.76 and a 12-month high of $24.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.92 and a quick ratio of 8.92. The stock has a market cap of $2,730.00, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The firm had revenue of $42.21 million for the quarter, compared to analysts’ expectations of $40.88 million. During the same period in the previous year, the company posted $0.12 EPS. The company’s quarterly revenue was up 111.2% compared to the same quarter last year. equities analysts forecast that Viper Energy Partners will post 0.96 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in Viper Energy Partners during the 3rd quarter worth $106,000. Credit Suisse AG acquired a new position in Viper Energy Partners during the 1st quarter worth $270,000. Renaissance Technologies LLC acquired a new position in Viper Energy Partners during the 1st quarter worth $281,000. Virtu KCG Holdings LLC lifted its position in Viper Energy Partners by 77.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock worth $301,000 after acquiring an additional 8,357 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Viper Energy Partners by 9.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock worth $310,000 after acquiring an additional 1,726 shares during the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.
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Viper Energy Partners Company Profile
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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