Viper Energy Partners LP (NASDAQ:VNOM) – Equities research analysts at Piper Jaffray Companies lowered their Q1 2019 earnings estimates for shares of Viper Energy Partners in a report released on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.39. Piper Jaffray Companies currently has a “Buy” rating and a $44.00 target price on the stock. Piper Jaffray Companies also issued estimates for Viper Energy Partners’ Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $1.25 EPS and FY2020 earnings at $1.87 EPS.
Other research analysts have also recently issued research reports about the company. BidaskClub upgraded Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Citigroup set a $33.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, December 17th. Oppenheimer reaffirmed a “buy” rating on shares of Viper Energy Partners in a research report on Monday, October 29th. ValuEngine lowered Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Finally, Zacks Investment Research lowered Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.31.
Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Monday, October 29th. The oil and gas producer reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.36). The firm had revenue of $78.60 million during the quarter, compared to analyst estimates of $78.65 million. Viper Energy Partners had a net margin of 67.73% and a return on equity of 10.95%. Viper Energy Partners’s revenue was up 84.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS.
In related news, Director Michael L. Hollis bought 3,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $33.68 per share, for a total transaction of $101,040.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Hof Matthew Kaes Van’t sold 5,000 shares of Viper Energy Partners stock in a transaction that occurred on Thursday, December 20th. The shares were sold at an average price of $25.76, for a total value of $128,800.00. Following the completion of the transaction, the president now owns 52,673 shares of the company’s stock, valued at $1,356,856.48. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of VNOM. Price Capital Management Inc. acquired a new position in Viper Energy Partners in the third quarter valued at approximately $131,000. Penn Capital Management Co. Inc. acquired a new position in Viper Energy Partners in the third quarter valued at approximately $213,000. Sawtooth Solutions LLC acquired a new position in Viper Energy Partners in the third quarter valued at approximately $250,000. Cim LLC acquired a new position in Viper Energy Partners in the third quarter valued at approximately $257,000. Finally, Northeast Investment Management acquired a new position in Viper Energy Partners in the third quarter valued at approximately $277,000. Institutional investors own 29.74% of the company’s stock.
About Viper Energy Partners
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.
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