Viper Energy Partners (NASDAQ:VNOM) Stock Rating Upgraded by Piper Sandler


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Viper Energy Partners (NASDAQ:VNOM) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, The Fly reports. The brokerage presently has a $17.00 price target on the oil and gas producer’s stock, up from their previous price target of $16.00. Piper Sandler’s price objective would suggest a potential upside of 16.12% from the stock’s previous close.

A number of other research firms also recently weighed in on VNOM. Simmons upgraded Viper Energy Partners from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Siebert Williams Shank reaffirmed a “hold” rating on shares of Viper Energy Partners in a research note on Friday, December 18th. TD Securities lifted their price objective on Viper Energy Partners from $15.00 to $19.50 and gave the stock a “buy” rating in a research note on Tuesday, February 23rd. Finally, KeyCorp lifted their price objective on Viper Energy Partners from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.23.

VNOM stock opened at $14.64 on Thursday. The company has a market cap of $2.28 billion, a P/E ratio of -6.10 and a beta of 2.64. Viper Energy Partners has a twelve month low of $6.52 and a twelve month high of $18.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $16.00 and a 200-day moving average of $12.29.

Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Sunday, February 21st. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.15. The company had revenue of $76.32 million during the quarter, compared to the consensus estimate of $56.51 million. Viper Energy Partners had a positive return on equity of 0.67% and a negative net margin of 60.82%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, equities research analysts anticipate that Viper Energy Partners will post 0.16 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Viper Energy Partners in the fourth quarter valued at about $342,000. Retirement Group LLC acquired a new position in shares of Viper Energy Partners during the fourth quarter worth about $38,000. JPMorgan Chase & Co. boosted its position in shares of Viper Energy Partners by 962.4% during the fourth quarter. JPMorgan Chase & Co. now owns 159,977 shares of the oil and gas producer’s stock worth $1,859,000 after buying an additional 144,919 shares during the period. Castleark Management LLC boosted its position in shares of Viper Energy Partners by 191.9% during the fourth quarter. Castleark Management LLC now owns 146,545 shares of the oil and gas producer’s stock worth $1,703,000 after buying an additional 96,340 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in shares of Viper Energy Partners during the fourth quarter worth about $656,000. 33.57% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2019, it had mineral interests in 24,304 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 88,946 thousand barrels of crude oil equivalent.

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Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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