Viper Energy Partners (NASDAQ:VNOM) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, The Fly reports. The firm currently has a $17.00 target price on the oil and gas producer’s stock, up from their prior target price of $16.00. Piper Sandler’s price objective indicates a potential upside of 16.12% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. TD Securities raised their target price on Viper Energy Partners from $15.00 to $19.50 and gave the company a “buy” rating in a report on Tuesday, February 23rd. KeyCorp raised their target price on Viper Energy Partners from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Siebert Williams Shank reaffirmed a “hold” rating on shares of Viper Energy Partners in a report on Friday, December 18th. Finally, Simmons raised Viper Energy Partners from a “neutral” rating to an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.23.

Shares of NASDAQ:VNOM opened at $14.64 on Thursday. The company has a market capitalization of $2.28 billion, a P/E ratio of -6.10 and a beta of 2.64. Viper Energy Partners has a 1 year low of $6.52 and a 1 year high of $18.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day simple moving average is $16.00 and its 200 day simple moving average is $12.29.

Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings results on Sunday, February 21st. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.15. The business had revenue of $76.32 million for the quarter, compared to the consensus estimate of $56.51 million. Viper Energy Partners had a positive return on equity of 0.67% and a negative net margin of 60.82%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, sell-side analysts anticipate that Viper Energy Partners will post 0.16 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. CWM Advisors LLC raised its position in Viper Energy Partners by 5.8% during the 4th quarter. CWM Advisors LLC now owns 20,398 shares of the oil and gas producer’s stock worth $237,000 after purchasing an additional 1,120 shares during the last quarter. Sei Investments Co. raised its position in Viper Energy Partners by 6.6% during the 3rd quarter. Sei Investments Co. now owns 48,260 shares of the oil and gas producer’s stock worth $354,000 after purchasing an additional 2,987 shares during the last quarter. Retirement Group LLC bought a new position in Viper Energy Partners during the 4th quarter worth $38,000. Steward Partners Investment Advisory LLC raised its position in Viper Energy Partners by 177.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,227 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 4,624 shares during the last quarter. Finally, Credit Suisse AG raised its position in Viper Energy Partners by 43.2% during the 4th quarter. Credit Suisse AG now owns 21,374 shares of the oil and gas producer’s stock worth $249,000 after purchasing an additional 6,449 shares during the last quarter. 33.57% of the stock is owned by institutional investors and hedge funds.

Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2019, it had mineral interests in 24,304 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 88,946 thousand barrels of crude oil equivalent.

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The Fly

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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