Viper Energy Partners (NASDAQ:VNOM) Cut to Hold at ValuEngine

ValuEngine cut shares of Viper Energy Partners (NASDAQ:VNOM) from a buy rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus reissued a buy rating on shares of Viper Energy Partners in a report on Tuesday, September 17th. JPMorgan Chase & Co. initiated coverage on shares of Viper Energy Partners in a report on Thursday, September 19th. They set an overweight rating and a $34.00 price objective on the stock. TheStreet lowered shares of Viper Energy Partners from a b rating to a c+ rating in a report on Wednesday, September 25th. SunTrust Banks initiated coverage on shares of Viper Energy Partners in a report on Monday, June 17th. They set a buy rating and a $36.00 price objective on the stock. Finally, Capital One Financial initiated coverage on shares of Viper Energy Partners in a report on Tuesday, July 2nd. They set an overweight rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Viper Energy Partners has an average rating of Buy and an average target price of $40.33.

Shares of VNOM traded up $0.33 during trading hours on Wednesday, reaching $27.11. 250,981 shares of the company traded hands, compared to its average volume of 445,379. The stock has a market capitalization of $3.66 billion, a P/E ratio of 25.10 and a beta of 1.28. The company has a quick ratio of 17.70, a current ratio of 17.70 and a debt-to-equity ratio of 0.13. Viper Energy Partners has a 12-month low of $22.76 and a 12-month high of $43.40. The business has a fifty day moving average price of $28.98 and a 200-day moving average price of $30.49.

Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $72.19 million for the quarter, compared to analysts’ expectations of $69.49 million. Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.62%. Viper Energy Partners’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $1.35 earnings per share. As a group, research analysts predict that Viper Energy Partners will post 0.3 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of VNOM. Arlington Partners LLC purchased a new stake in shares of Viper Energy Partners during the 2nd quarter worth about $46,000. Royal Bank of Canada purchased a new stake in shares of Viper Energy Partners during the 2nd quarter worth about $83,000. San Francisco Sentry Investment Group CA boosted its stake in shares of Viper Energy Partners by 15.4% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,375 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 450 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Viper Energy Partners during the 1st quarter worth about $138,000. Finally, Keybank National Association OH purchased a new stake in shares of Viper Energy Partners during the 2nd quarter worth about $210,000. 38.77% of the stock is currently owned by institutional investors and hedge funds.

About Viper Energy Partners

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.

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Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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