Viper Energy Partners (NASDAQ:VNOM) Price Target Raised to $39.00

Viper Energy Partners (NASDAQ:VNOM – Get Rating) had its price target boosted by equities researchers at Piper Sandler to $39.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a “na” rating on the oil and gas producer’s stock. Piper Sandler’s target price would indicate a potential upside of 32.74% from the company’s current price.

A number of other analysts have also recently weighed in on VNOM. Barclays upped their price target on Viper Energy Partners from $25.00 to $35.00 in a research report on Thursday, April 28th. Zacks Investment Research upgraded Viper Energy Partners from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Wednesday, March 16th. KeyCorp increased their target price on Viper Energy Partners from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. Truist Financial increased their target price on Viper Energy Partners from $40.00 to $45.00 in a research note on Thursday, April 21st. Finally, Wells Fargo & Company increased their target price on Viper Energy Partners from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 25th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Viper Energy Partners has a consensus rating of “Buy” and an average price target of $35.11.

Shares of VNOM stock traded down $0.52 during trading hours on Wednesday, reaching $29.38. 6,030 shares of the company’s stock were exchanged, compared to its average volume of 526,839. Viper Energy Partners has a fifty-two week low of $15.98 and a fifty-two week high of $32.35. The stock has a market capitalization of $4.93 billion, a P/E ratio of 27.96 and a beta of 2.08. The business has a fifty day moving average price of $29.85 and a 200-day moving average price of $26.40. The company has a quick ratio of 3.68, a current ratio of 3.68 and a debt-to-equity ratio of 0.32.

Viper Energy Partners (NASDAQ:VNOM – Get Rating) last issued its earnings results on Monday, May 2nd. The oil and gas producer reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). Viper Energy Partners had a net margin of 12.72% and a return on equity of 3.22%. During the same period last year, the business earned ($0.08) earnings per share. As a group, research analysts expect that Viper Energy Partners will post 1.61 EPS for the current fiscal year.

In related news, Director Steven E. West sold 60,000 shares of the stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $28.37, for a total transaction of $1,702,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 5,643 shares of the stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $32.13, for a total value of $181,309.59. Following the transaction, the insider now owns 12,525,988 shares of the company’s stock, valued at $402,459,994.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 831,436 shares of company stock worth $24,701,964. 0.30% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Epoch Investment Partners Inc. boosted its stake in shares of Viper Energy Partners by 2.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 924,665 shares of the oil and gas producer’s stock worth $20,204,000 after acquiring an additional 26,310 shares during the period. Recurrent Investment Advisors LLC boosted its stake in shares of Viper Energy Partners by 16.8% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 608,101 shares of the oil and gas producer’s stock worth $13,287,000 after acquiring an additional 87,593 shares during the period. Morgan Stanley lifted its holdings in Viper Energy Partners by 2.2% during the 3rd quarter. Morgan Stanley now owns 1,445,632 shares of the oil and gas producer’s stock worth $31,587,000 after purchasing an additional 30,729 shares during the last quarter. Cardinal Capital Management LLC CT lifted its holdings in Viper Energy Partners by 13.5% during the 3rd quarter. Cardinal Capital Management LLC CT now owns 2,780,414 shares of the oil and gas producer’s stock worth $60,752,000 after purchasing an additional 331,032 shares during the last quarter. Finally, We Are One Seven LLC lifted its holdings in Viper Energy Partners by 18.6% during the 4th quarter. We Are One Seven LLC now owns 29,713 shares of the oil and gas producer’s stock worth $633,000 after purchasing an additional 4,654 shares during the last quarter. Hedge funds and other institutional investors own 47.03% of the company’s stock.

About Viper Energy Partners (Get Rating)

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated proved oil and natural gas reserves of 127,888 thousand barrels of crude oil equivalent.

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