Viper Energy Partners (NASDAQ:VNOM) PT Raised to $16.00 at UBS Group

Viper Energy Partners (NASDAQ:VNOM) had its price objective raised by equities research analysts at UBS Group from $15.00 to $16.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s target price would indicate a potential upside of 54.44% from the stock’s previous close.

Several other brokerages have also recently weighed in on VNOM. BidaskClub cut Viper Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, June 19th. Raymond James decreased their target price on Viper Energy Partners from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. SunTrust Banks decreased their target price on Viper Energy Partners from $18.00 to $10.00 in a research report on Friday, March 20th. ValuEngine raised Viper Energy Partners from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Finally, Credit Suisse Group decreased their target price on Viper Energy Partners from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $19.06.

Shares of NASDAQ:VNOM opened at $10.36 on Monday. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $10.78 and its two-hundred day simple moving average is $15.25. Viper Energy Partners has a 1-year low of $4.98 and a 1-year high of $33.10. The stock has a market cap of $1.62 billion, a PE ratio of -5.45 and a beta of 2.21.

Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.27. Viper Energy Partners had a positive return on equity of 1.45% and a negative net margin of 41.11%. The business had revenue of $78.69 million for the quarter, compared to analysts’ expectations of $75.26 million. During the same period last year, the business earned $0.61 EPS. On average, sell-side analysts forecast that Viper Energy Partners will post -0.41 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its holdings in Viper Energy Partners by 84.6% during the 1st quarter. State Street Corp now owns 141,902 shares of the oil and gas producer’s stock valued at $941,000 after buying an additional 65,024 shares in the last quarter. Royal Bank of Canada grew its holdings in Viper Energy Partners by 50.1% during the 1st quarter. Royal Bank of Canada now owns 26,720 shares of the oil and gas producer’s stock valued at $177,000 after buying an additional 8,918 shares in the last quarter. Morgan Stanley grew its holdings in Viper Energy Partners by 23.7% during the 1st quarter. Morgan Stanley now owns 989,912 shares of the oil and gas producer’s stock valued at $6,564,000 after buying an additional 189,611 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Viper Energy Partners during the 1st quarter valued at about $299,000. Finally, Kohlberg Kravis Roberts & Co. L.P. purchased a new position in Viper Energy Partners during the 1st quarter valued at about $21,911,000. 35.44% of the stock is owned by institutional investors.

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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