Piper Sandler Lowers Viper Energy Partners (NASDAQ:VNOM) Price Target to $10.00

Viper Energy Partners (NASDAQ:VNOM) had its price target lowered by Piper Sandler from $12.00 to $10.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other research firms have also recently issued reports on VNOM. UBS Group raised their price objective on shares of Viper Energy Partners from $15.00 to $16.00 and gave the stock a buy rating in a research report on Monday, June 29th. Raymond James lifted their price target on shares of Viper Energy Partners from $10.00 to $12.00 and gave the company an outperform rating in a research report on Monday, July 20th. Imperial Capital increased their price objective on Viper Energy Partners from $10.00 to $12.00 and gave the stock an outperform rating in a research report on Thursday, July 16th. KeyCorp raised their target price on Viper Energy Partners from $10.00 to $13.00 and gave the stock an overweight rating in a research note on Friday, June 12th. Finally, Northland Securities upped their price target on Viper Energy Partners from $10.00 to $12.00 and gave the company an outperform rating in a research note on Monday, July 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $16.67.

VNOM stock opened at $7.99 on Friday. Viper Energy Partners has a 1 year low of $4.98 and a 1 year high of $31.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $1.27 billion, a PE ratio of -3.54 and a beta of 2.26. The business has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $9.78.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.10. Viper Energy Partners had a positive return on equity of 1.12% and a negative net margin of 55.71%. The company had revenue of $32.67 million for the quarter, compared to analyst estimates of $31.53 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was down 54.7% compared to the same quarter last year. On average, equities research analysts expect that Viper Energy Partners will post -0.25 EPS for the current year.

Large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Viper Energy Partners by 10.0% in the first quarter. Wellington Management Group LLP now owns 10,096,766 shares of the oil and gas producer’s stock valued at $66,942,000 after purchasing an additional 917,766 shares during the period. HITE Hedge Asset Management LLC boosted its position in Viper Energy Partners by 75.9% in the 1st quarter. HITE Hedge Asset Management LLC now owns 5,176,146 shares of the oil and gas producer’s stock valued at $34,318,000 after buying an additional 2,233,330 shares during the period. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in shares of Viper Energy Partners in the first quarter worth $21,911,000. Eagle Asset Management Inc. increased its position in shares of Viper Energy Partners by 0.5% during the first quarter. Eagle Asset Management Inc. now owns 2,591,254 shares of the oil and gas producer’s stock worth $17,180,000 after acquiring an additional 12,239 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Viper Energy Partners by 47.7% in the second quarter. CIBC Private Wealth Group LLC now owns 2,320,942 shares of the oil and gas producer’s stock valued at $24,045,000 after acquiring an additional 750,000 shares in the last quarter. Institutional investors own 33.01% 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. 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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