Viper Energy Partners (VNOM) Stock Rating Upgraded by Zacks Investment Research

Viper Energy Partners (NASDAQ:VNOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $47.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.87% from the stock’s previous close.

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 research firms have also recently issued reports on VNOM. BidaskClub raised shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 20th. Northland Securities set a $45.00 price target on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Thursday, August 16th. Stifel Nicolaus raised shares of Viper Energy Partners from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $42.00 in a report on Thursday, August 16th. Raymond James increased their target price on shares of Viper Energy Partners from $38.00 to $45.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 16th. Finally, Imperial Capital set a $45.00 target price on shares of Viper Energy Partners and gave the stock an “outperform” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.93.

VNOM opened at $41.64 on Wednesday. The firm has a market capitalization of $5.27 billion, a P/E ratio of 38.65 and a beta of 1.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 23.74 and a current ratio of 23.74. Viper Energy Partners has a 12-month low of $18.02 and a 12-month high of $43.25.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.33. The firm had revenue of $75.41 million for the quarter, compared to analysts’ expectations of $70.06 million. Viper Energy Partners had a net margin of 88.05% and a return on equity of 14.66%. The firm’s quarterly revenue was up 106.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. equities research analysts anticipate that Viper Energy Partners will post 1.63 EPS for the current fiscal year.

In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 7,615 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $38.58, for a total transaction of $293,786.70. Following the sale, the president now directly owns 64,873 shares of the company’s stock, valued at $2,502,800.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Viper Energy Partners by 7.6% during the second quarter. FMR LLC now owns 3,068,984 shares of the oil and gas producer’s stock worth $97,932,000 after acquiring an additional 217,580 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Viper Energy Partners by 31.9% during the second quarter. Kayne Anderson Capital Advisors LP now owns 1,969,595 shares of the oil and gas producer’s stock worth $62,843,000 after acquiring an additional 476,000 shares during the last quarter. Raymond James & Associates grew its position in shares of Viper Energy Partners by 911.9% during the second quarter. Raymond James & Associates now owns 1,352,117 shares of the oil and gas producer’s stock worth $43,146,000 after acquiring an additional 1,218,494 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Viper Energy Partners by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 805,486 shares of the oil and gas producer’s stock worth $20,467,000 after acquiring an additional 17,591 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Viper Energy Partners by 10.2% during the first quarter. Wells Fargo & Company MN now owns 603,921 shares of the oil and gas producer’s stock worth $15,346,000 after acquiring an additional 55,829 shares during the last quarter. Institutional investors and hedge funds own 25.00% of the company’s stock.

About Viper Energy Partners

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

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