Viper Energy Partners (VNOM) Now Covered by Credit Suisse Group
Credit Suisse Group initiated coverage on shares of Viper Energy Partners (NASDAQ:VNOM) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $25.00 target price on the oil and gas producer’s stock.
Several other equities analysts also recently commented on the stock. UBS upgraded shares of Viper Energy Partners from a neutral rating to a buy rating and upped their price target for the company from $19.00 to $27.00 in a report on Tuesday, December 5th. BidaskClub upgraded shares of Viper Energy Partners from a hold rating to a buy rating in a research note on Saturday, December 2nd. SunTrust Banks began coverage on shares of Viper Energy Partners in a research note on Wednesday, November 29th. They issued a buy rating on the stock. Zacks Investment Research downgraded shares of Viper Energy Partners from a buy rating to a hold rating in a research note on Tuesday, November 14th. Finally, Northland Securities set a $24.00 target price on shares of Viper Energy Partners and gave the stock a buy rating in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $22.55.
Viper Energy Partners (NASDAQ:VNOM) opened at $22.15 on Monday. The company has a market cap of $2,500.00, a PE ratio of 24.80, a P/E/G ratio of 1.51 and a beta of 1.06. Viper Energy Partners has a fifty-two week low of $14.76 and a fifty-two week high of $22.66. The company has a current ratio of 8.92, a quick ratio of 8.92 and a debt-to-equity ratio of 0.04.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $42.21 million for the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. The firm’s revenue was up 111.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. equities analysts predict that Viper Energy Partners will post 0.96 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. Geode Capital Management LLC lifted its position in Viper Energy Partners by 33.3% during the first quarter. Geode Capital Management LLC now owns 55,295 shares of the oil and gas producer’s stock valued at $994,000 after acquiring an additional 13,809 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Viper Energy Partners during the first quarter valued at approximately $281,000. Credit Suisse AG purchased a new stake in Viper Energy Partners during the first quarter valued at approximately $270,000. Kayne Anderson Capital Advisors LP lifted its position in Viper Energy Partners by 54.5% during the second quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock valued at $15,069,000 after acquiring an additional 338,500 shares during the last quarter. Finally, Syntal Capital Partners LLC purchased a new stake in Viper Energy Partners during the second quarter valued at approximately $596,000. Hedge funds and other institutional investors own 27.14% of the company’s stock.
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About Viper Energy Partners
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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