Viper Energy Partners LP (VNOM) Forecasted to Post Q3 2017 Earnings of $0.21 Per Share
Viper Energy Partners LP (NASDAQ:VNOM) – Investment analysts at Imperial Capital upped their Q3 2017 EPS estimates for Viper Energy Partners in a research note issued to investors on Wednesday. Imperial Capital analyst J. Wangler now expects that the oil and gas producer will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.19. Imperial Capital currently has a “In-Line” rating and a $23.00 target price on the stock. Imperial Capital also issued estimates for Viper Energy Partners’ Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.88 EPS and FY2018 earnings at $1.18 EPS.
VNOM has been the subject of a number of other research reports. Mizuho upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Wednesday, August 2nd. Northland Securities set a $21.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Barclays PLC dropped their price objective on shares of Viper Energy Partners from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.62.
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Shares of Viper Energy Partners (NASDAQ VNOM) opened at 18.95 on Thursday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 25.07 and a beta of 0.99. Viper Energy Partners has a one year low of $13.53 and a one year high of $19.38. The firm’s 50-day moving average price is $17.36 and its 200-day moving average price is $17.13.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $36.62 million during the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%.
In other news, CEO Travis D. Stice purchased 30,811 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average price of $14.75 per share, for a total transaction of $454,462.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Hollis purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $16.07 per share, with a total value of $40,175.00. The disclosure for this purchase can be found here. Insiders purchased 756,418 shares of company stock valued at $10,901,466 in the last quarter.
A number of institutional investors have recently modified their holdings of VNOM. Envestnet Asset Management Inc. purchased a new position in Viper Energy Partners in the first quarter worth approximately $121,000. PEAK6 Investments L.P. purchased a new position in Viper Energy Partners in the first quarter worth approximately $196,000. Creative Planning lifted its stake in Viper Energy Partners by 1,215.5% in the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after acquiring an additional 12,155 shares during the last quarter. Citadel Advisors LLC purchased a new position in Viper Energy Partners in the first quarter worth approximately $235,000. Finally, Credit Suisse AG purchased a new position in Viper Energy Partners in the first quarter worth approximately $270,000. Institutional investors own 15.59% of the company’s stock.
About Viper Energy Partners
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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