Viper Energy Partners (VNOM) Now Covered by Royal Bank of Canada

Stock analysts at Royal Bank of Canada began coverage on shares of Viper Energy Partners (NASDAQ:VNOM) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating on the oil and gas producer’s stock.

VNOM has been the topic of a number of other research reports. Stephens began coverage on Viper Energy Partners in a report on Thursday, April 11th. They set an “overweight” rating and a $47.00 target price on the stock. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. BidaskClub raised Viper Energy Partners from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. ValuEngine raised Viper Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Finally, Raymond James set a $50.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.58.

Shares of VNOM opened at $32.95 on Thursday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 30.51 and a beta of 1.31. Viper Energy Partners has a one year low of $22.76 and a one year high of $44.00. The company has a quick ratio of 10.84, a current ratio of 10.84 and a debt-to-equity ratio of 0.33.

Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, February 5th. The oil and gas producer reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). Viper Energy Partners had a return on equity of 6.74% and a net margin of 49.62%. The firm had revenue of $73.67 million for the quarter, compared to the consensus estimate of $81.53 million. During the same period in the prior year, the business earned $0.37 EPS. On average, research analysts anticipate that Viper Energy Partners will post 0.32 EPS for the current year.

In related news, President Hof Matthew Kaes Van’t sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.51, for a total value of $77,073.00. Following the sale, the president now directly owns 44,624 shares in the company, valued at approximately $1,495,350.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new position in shares of Viper Energy Partners during the 4th quarter valued at $76,000. Caz Investments LP acquired a new position in shares of Viper Energy Partners during the 4th quarter valued at $104,000. Penn Capital Management Co. Inc. acquired a new position in shares of Viper Energy Partners during the 3rd quarter valued at $213,000. Northeast Investment Management increased its position in shares of Viper Energy Partners by 30.5% during the 4th quarter. Northeast Investment Management now owns 8,589 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 2,007 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in shares of Viper Energy Partners during the 1st quarter valued at $230,000. Hedge funds and other institutional investors own 32.25% 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. 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.

Further Reading: Calculate Your Return on Investment (ROI)

The Fly

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