Viper Energy Partners (NASDAQ:VNOM) Price Target Raised to $16.00

Viper Energy Partners (NASDAQ:VNOM) had its target price hoisted by UBS Group from $15.00 to $16.00 in a report published on Monday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the oil and gas producer’s stock.

VNOM has been the topic of several other reports. TD Securities dropped their target price on shares of Viper Energy Partners from $19.00 to $15.00 and set a buy rating on the stock in a report on Friday, March 20th. Imperial Capital dropped their target price on shares of Viper Energy Partners from $30.00 to $10.00 and set an outperform rating on the stock in a report on Friday, March 27th. SunTrust Banks dropped their target price on shares of Viper Energy Partners from $18.00 to $10.00 in a report on Friday, March 20th. KeyCorp increased their target price on shares of Viper Energy Partners from $10.00 to $13.00 and gave the stock an overweight rating in a report on Friday, June 12th. Finally, ValuEngine upgraded shares of Viper Energy Partners from a hold rating to a buy rating in a report on Friday, May 1st. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Viper Energy Partners has an average rating of Buy and a consensus target price of $17.87.

NASDAQ VNOM opened at $10.16 on Monday. The company’s 50-day moving average price is $10.84 and its 200-day moving average price is $15.10. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.64 billion, a PE ratio of -5.35 and a beta of 2.24. Viper Energy Partners has a 12 month low of $4.98 and a 12 month high of $33.10.

Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.27. Viper Energy Partners had a negative net margin of 41.11% and a positive return on equity of 1.45%. The company had revenue of $78.69 million for the quarter, compared to analysts’ expectations of $75.26 million. During the same period in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts forecast that Viper Energy Partners will post -0.41 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Swiss National Bank purchased a new position in Viper Energy Partners during the 4th quarter worth approximately $2,957,000. State Street Corp purchased a new position in Viper Energy Partners during the 4th quarter worth approximately $1,896,000. Heartland Advisors Inc. raised its position in Viper Energy Partners by 37.5% during the 4th quarter. Heartland Advisors Inc. now owns 275,000 shares of the oil and gas producer’s stock worth $6,782,000 after buying an additional 75,000 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Viper Energy Partners during the 4th quarter worth approximately $101,000. Finally, Northeast Investment Management raised its position in Viper Energy Partners by 50.8% during the 4th quarter. Northeast Investment Management now owns 48,584 shares of the oil and gas producer’s stock worth $1,198,000 after buying an additional 16,370 shares during the last quarter. 35.44% of the stock is owned by hedge funds and other institutional investors.

About Viper Energy Partners

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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