Piper Jaffray Companies Research Analysts Lift Earnings Estimates for Viper Energy Partners LP (NASDAQ:VNOM)

Viper Energy Partners LP (NASDAQ:VNOM) – Research analysts at Piper Jaffray Companies increased their Q1 2020 EPS estimates for Viper Energy Partners in a report issued on Tuesday, October 8th. Piper Jaffray Companies analyst P. Hammond now anticipates that the oil and gas producer will earn $0.03 per share for the quarter, up from their prior estimate of $0.02. Piper Jaffray Companies also issued estimates for Viper Energy Partners’ Q2 2020 earnings at $0.03 EPS and Q3 2020 earnings at $0.05 EPS.

Viper Energy Partners (NASDAQ:VNOM) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $72.19 million for the quarter, compared to the consensus estimate of $69.49 million. Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.62%. Viper Energy Partners’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS.

Several other equities research analysts have also recently weighed in on VNOM. JPMorgan Chase & Co. reduced their price target on Viper Energy Partners from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI began coverage on Viper Energy Partners in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $38.00 price target on the stock. TD Securities upped their price target on Viper Energy Partners from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Viper Energy Partners in a research note on Tuesday, September 17th. Finally, TheStreet cut Viper Energy Partners from a “b” rating to a “c+” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $40.22.

Shares of Viper Energy Partners stock opened at $26.96 on Thursday. The company has a market cap of $3.59 billion, a PE ratio of 24.96 and a beta of 1.28. The business has a 50 day moving average of $28.79 and a 200 day moving average of $30.26. Viper Energy Partners has a 52 week low of $22.76 and a 52 week high of $40.10. The company has a quick ratio of 17.70, a current ratio of 17.70 and a debt-to-equity ratio of 0.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA grew its stake in shares of Viper Energy Partners by 15.4% in the second quarter. San Francisco Sentry Investment Group CA now owns 3,375 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 450 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Viper Energy Partners by 6.8% in the second quarter. Envestnet Asset Management Inc. now owns 8,577 shares of the oil and gas producer’s stock worth $264,000 after acquiring an additional 545 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Viper Energy Partners by 6.8% in the second quarter. First Republic Investment Management Inc. now owns 9,850 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 630 shares during the last quarter. Meridian Wealth Advisors LLC grew its stake in shares of Viper Energy Partners by 2.3% in the second quarter. Meridian Wealth Advisors LLC now owns 28,750 shares of the oil and gas producer’s stock worth $886,000 after acquiring an additional 650 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its stake in shares of Viper Energy Partners by 6.2% in the second quarter. ETRADE Capital Management LLC now owns 12,604 shares of the oil and gas producer’s stock worth $388,000 after acquiring an additional 732 shares during the last quarter. 38.77% of the stock is currently owned by hedge funds and other institutional investors.

About Viper Energy Partners

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.

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Earnings History and Estimates for Viper Energy Partners (NASDAQ:VNOM)

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