Viper Energy Partners (VNOM) Upgraded by BidaskClub to Buy

Viper Energy Partners (NASDAQ:VNOM) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also weighed in on the company. Northland Securities reaffirmed a “buy” rating and set a $24.00 target price on shares of Viper Energy Partners in a research report on Thursday, October 12th. Piper Jaffray Companies decreased their target price on Viper Energy Partners from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Citigroup lifted their price target on Viper Energy Partners from $20.00 to $22.00 and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research downgraded Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, UBS initiated coverage on Viper Energy Partners in a report on Monday, October 2nd. They issued a “neutral” rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $21.45.

Shares of Viper Energy Partners (VNOM) traded up $0.50 during midday trading on Friday, reaching $21.48. The company’s stock had a trading volume of 308,128 shares, compared to its average volume of 152,697. The company has a current ratio of 8.92, a quick ratio of 8.92 and a debt-to-equity ratio of 0.04. The company has a market cap of $2,389.24, a price-to-earnings ratio of 23.84, a PEG ratio of 1.45 and a beta of 1.06. Viper Energy Partners has a 1-year low of $14.76 and a 1-year high of $21.97.

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 for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $42.21 million during 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%. Viper Energy Partners’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 EPS. equities research analysts anticipate that Viper Energy Partners will post 0.96 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its stake in Viper Energy Partners by 16.8% during the 3rd quarter. GSA Capital Partners LLP now owns 123,756 shares of the oil and gas producer’s stock worth $2,307,000 after buying an additional 17,794 shares during the last quarter. Gen IV Investment Opportunities LLC grew its stake in Viper Energy Partners by 390.8% during the 3rd quarter. Gen IV Investment Opportunities LLC now owns 595,421 shares of the oil and gas producer’s stock worth $11,099,000 after buying an additional 474,100 shares during the last quarter. RR Advisors LLC grew its stake in 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 worth $12,229,000 after buying an additional 65,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in 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 worth $11,135,000 after buying an additional 54,752 shares during the last quarter. Finally, HITE Hedge Asset Management LLC grew its stake in 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 worth $37,206,000 after buying an additional 1,521,773 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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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.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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