Viper Energy Partners (VNOM) Given a $33.00 Price Target at Citigroup

Viper Energy Partners (NASDAQ:VNOM) received a $33.00 target price from stock analysts at Citigroup in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target would indicate a potential upside of 24.01% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Piper Jaffray Companies began coverage on shares of Viper Energy Partners in a research report on Friday, September 28th. They set an “overweight” rating on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Viper Energy Partners in a research report on Monday, October 29th. BidaskClub lowered shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Credit Suisse Group raised their price objective on shares of Viper Energy Partners from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, October 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.31.

NASDAQ VNOM opened at $26.61 on Monday. The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.52 billion, a PE ratio of 24.87 and a beta of 1.11. Viper Energy Partners has a 52-week low of $21.38 and a 52-week high of $44.00.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, October 29th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.36). The company had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $78.65 million. Viper Energy Partners had a return on equity of 10.95% and a net margin of 67.73%. Viper Energy Partners’s revenue for the quarter was up 84.8% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Sell-side analysts predict that Viper Energy Partners will post 1.19 EPS for the current fiscal year.

In related news, Director Michael L. Hollis purchased 3,000 shares of the stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $33.68 per share, for a total transaction of $101,040.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in Viper Energy Partners during the third quarter valued at approximately $3,118,000. Morgan Stanley grew its holdings in Viper Energy Partners by 32.9% during the third quarter. Morgan Stanley now owns 625,667 shares of the oil and gas producer’s stock valued at $26,341,000 after purchasing an additional 154,798 shares during the last quarter. Penn Capital Management Co. Inc. acquired a new position in Viper Energy Partners during the third quarter valued at approximately $213,000. Point72 Asset Management L.P. acquired a new position in Viper Energy Partners during the third quarter valued at approximately $859,000. Finally, Soros Fund Management LLC acquired a new position in Viper Energy Partners during the third quarter valued at approximately $3,158,000. Institutional investors own 29.74% of the company’s stock.

Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.

See Also: Understanding debt-to-equity ratio in fundamental analysis

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

Receive News & Ratings for Viper Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viper Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply