Viper Energy Partners (VNOM) Upgraded to Buy by UBS

Viper Energy Partners (NASDAQ:VNOM) was upgraded by research analysts at UBS from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, 99wallstreet.com reports. The brokerage currently has a $27.00 price target on the oil and gas producer’s stock, up from their previous price target of $19.00. UBS’s price target points to a potential upside of 25.64% from the company’s current price.

Other analysts also recently issued reports about the stock. Northland Securities reiterated a “buy” rating and issued a $24.00 price target on shares of Viper Energy Partners in a report on Tuesday, September 5th. Imperial Capital began coverage on shares of Viper Energy Partners in a report on Tuesday, August 15th. They issued an “outperform” rating and a $21.00 price target on the stock. TheStreet upgraded shares of Viper Energy Partners from a “c+” rating to a “b-” rating in a report on Monday, August 14th. Piper Jaffray Companies reduced their price target on shares of Viper Energy Partners from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Viper Energy Partners in a report on Sunday, September 10th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.45.

Shares of Viper Energy Partners (VNOM) traded up $0.01 during mid-day trading on Tuesday, hitting $21.49. 417,500 shares of the stock traded hands, compared to its average volume of 232,090. The company has a market cap of $2,446.19, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 1.48 and a beta of 1.06. Viper Energy Partners has a 12-month low of $14.76 and a 12-month high of $22.00. The company has a quick ratio of 8.92, a current ratio of 8.92 and a debt-to-equity ratio of 0.04.

Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Viper Energy Partners’s revenue for the quarter was up 111.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. equities analysts expect that Viper Energy Partners will post 0.96 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP boosted its position in Viper Energy Partners by 28.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,233,200 shares of the oil and gas producer’s stock valued at $22,984,000 after buying an additional 273,200 shares during the period. Freestone Capital Holdings LLC bought a new stake in shares of Viper Energy Partners in the 2nd quarter valued at about $1,510,000. CI Global Investments Inc. raised its holdings in shares of Viper Energy Partners by 6.0% in the 2nd quarter. CI Global Investments Inc. now owns 1,934,200 shares of the oil and gas producer’s stock valued at $30,367,000 after purchasing an additional 108,705 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Viper Energy Partners by 81.6% in the 3rd quarter. Malaga Cove Capital LLC now owns 118,174 shares of the oil and gas producer’s stock valued at $2,199,000 after purchasing an additional 53,114 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Viper Energy Partners in the 2nd quarter valued at about $1,664,000. 27.14% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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