Viper Energy Partners LP (NASDAQ:VNOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 brokerages have also issued reports on VNOM. Stifel Nicolaus set a $20.00 target price on Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Northland Securities restated a “buy” rating and issued a $24.00 target price on shares of Viper Energy Partners in a research note on Tuesday, September 5th. UBS AG started coverage on Viper Energy Partners in a research note on Monday, October 2nd. They issued a “neutral” rating and a $18.00 target price on the stock. Scotiabank upgraded Viper Energy Partners from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Tuesday, July 25th. Finally, Imperial Capital restated an “in-line” rating and issued a $23.00 target price (up from $21.00) on shares of Viper Energy Partners in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $21.45.
Shares of Viper Energy Partners (VNOM) traded down $0.13 on Tuesday, hitting $19.82. The company’s stock had a trading volume of 82,600 shares, compared to its average volume of 235,168. The company has a market capitalization of $2,271.95, a price-to-earnings ratio of 22.67, a PEG ratio of 1.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.92 and a current ratio of 8.92. Viper Energy Partners has a 52-week low of $14.76 and a 52-week high of $20.81.
Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $42.21 million for the quarter, compared to analyst estimates of $40.88 million. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The business’s revenue was up 111.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. equities analysts forecast that Viper Energy Partners will post 0.97 EPS for the current year.
In related news, Director Michael L. Hollis acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $16.07 per share, for a total transaction of $40,175.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several large investors have recently added to or reduced their stakes in the stock. RR Advisors LLC raised its stake in shares of Viper Energy Partners by 11.0% during the 3rd quarter. RR Advisors LLC now owns 657,000 shares of the oil and gas producer’s stock valued at $12,229,000 after purchasing an additional 65,000 shares during the period. Wells Fargo & Company MN raised its stake in shares of Viper Energy Partners by 10.1% during the 3rd quarter. Wells Fargo & Company MN now owns 597,367 shares of the oil and gas producer’s stock valued at $11,135,000 after purchasing an additional 54,752 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of Viper Energy Partners by 320.9% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,996,005 shares of the oil and gas producer’s stock valued at $37,206,000 after purchasing an additional 1,521,773 shares during the period. SG Capital Management LLC bought a new stake in shares of Viper Energy Partners during the 3rd quarter valued at $13,619,000. Finally, LMR Partners LLP purchased a new position in Viper Energy Partners during the third quarter worth about $2,050,000. Institutional investors own 17.96% of the company’s stock.
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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