Viper Energy Partners (NASDAQ:VNOM – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.
VNOM has been the topic of several other research reports. Raymond James lifted their price target on Viper Energy Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. TD Securities lifted their target price on Viper Energy Partners from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Piper Sandler lifted their target price on Viper Energy Partners to $39.00 and gave the company a “na” rating in a research report on Wednesday, May 18th. Barclays lifted their target price on Viper Energy Partners from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Finally, Wells Fargo & Company lifted their target price on Viper Energy Partners from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 25th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.13.
If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!
Shares of VNOM traded up $1.89 during midday trading on Thursday, hitting $25.80. The stock had a trading volume of 604,543 shares, compared to its average volume of 652,204. The company has a 50 day simple moving average of $29.91 and a two-hundred day simple moving average of $28.45. Viper Energy Partners has a twelve month low of $15.98 and a twelve month high of $35.85. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 24.57 and a beta of 2.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.68 and a quick ratio of 3.68.
Viper Energy Partners (NASDAQ:VNOM – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.10). Viper Energy Partners had a net margin of 12.72% and a return on equity of 3.22%. The firm had revenue of $201.90 million during the quarter, compared to analyst estimates of $173.84 million. During the same period in the prior year, the business earned ($0.08) EPS. Analysts forecast that Viper Energy Partners will post 1.52 EPS for the current fiscal year.
In other news, major shareholder Holdings L.P. Blackstone III sold 2,168 shares of Viper Energy Partners stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $31.09, for a total transaction of $67,403.12. Following the completion of the sale, the insider now directly owns 12,686,631 shares of the company’s stock, valued at approximately $394,427,357.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 190,306 shares of company stock valued at $6,348,500. Insiders own 0.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cardinal Capital Management LLC CT increased its holdings in Viper Energy Partners by 6.8% during the first quarter. Cardinal Capital Management LLC CT now owns 3,028,295 shares of the oil and gas producer’s stock valued at $89,547,000 after buying an additional 192,221 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Viper Energy Partners by 3.9% in the first quarter. Eagle Asset Management Inc. now owns 2,694,987 shares of the oil and gas producer’s stock worth $79,690,000 after purchasing an additional 101,910 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Viper Energy Partners by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,407,639 shares of the oil and gas producer’s stock worth $51,307,000 after purchasing an additional 98,290 shares in the last quarter. Boston Partners boosted its position in shares of Viper Energy Partners by 13.8% during the fourth quarter. Boston Partners now owns 1,950,608 shares of the oil and gas producer’s stock worth $42,015,000 after acquiring an additional 236,655 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position in shares of Viper Energy Partners by 15.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,565,804 shares of the oil and gas producer’s stock worth $33,367,000 after acquiring an additional 204,257 shares during the last quarter. 47.03% of the stock is owned by hedge funds and other institutional investors.
About Viper Energy Partners (Get Rating)
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated proved oil and natural gas reserves of 127,888 thousand barrels of crude oil equivalent.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in Viper Energy Partners right now?
Before you consider Viper Energy Partners, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Viper Energy Partners wasn’t on the list.
While Viper Energy Partners currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Viper Energy Partners (NASDAQ:VNOM) Upgraded to “Buy” by StockNews.com