Viper Energy Partners LP (NASDAQ:VNOM) is now being followed by Piper Jaffray, as they initiated the stock at Overweight on September 28. Analysts at Citigroup, shed their negative views on August 21 by lifting it fromNeutral to Buy. The stock won favor of Stifel analysts who expressed their confidence in it using an upgrade from Hold to Buy on August 17.
VNOM stock dropped -0.78% in recent trade and currently has a stock-market value of $1.7B. The shares finished at $33.17, after trading as low as $32.7 earlier in the session. It hit an intraday high Wednesday at $33.62. Trading activity significantly weakened as the volume at ready counter decreased to 375,122 shares versus 906,660 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 723,689 shares. The stock is now 54.21% above against its bear-market low of $21.51 on March 14, 2018. It has retreated -32.65% since it’s 52-week high of $44 reached in October. Now the market price is up 41.75% on the year and up 27.38% YTD.
It has been reported that multiple insider activity took place at Viper Energy Partners LP (VNOM). President Van’T Hof Matthew Kaes sold 5,000 shares for $52,673 in transaction occurred on 2018/12/20. After making this transaction, President owns a direct stake of 128,800 shares, worth $1,747,163, as per the last closing price.
President, Van’T Hof Matthew Kaes had divested 14,800 shares for $57,673 through a trade on 2018/09/14. Following this activity, the insider holds 572,908 shares worth $1,913,013 as of recent close.
Viper Energy Partners LP (VNOM)’s 50 day simple moving average (SMA 50) price is $30.72 and its 200-day simple moving average (SMA 200) price is $33.31. The company’s stock currently has a total float of 50.54M shares. Its weekly volatility is hovering around 2.39% and felt 3.56% volatility in price over a month. On the upside, the share price will test short term resistance at around $33.63. On a downside, the stock is likely to find some support, which begins at $32.71. The failure to get near-term support could push it to $32.24.
When looking at valuations, Viper Energy Partners LP (VNOM) has a pricey P/E of 18.79x as compared to industry average of 4.78x. Moreover, it trades for 35.78 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 3.15x price/book and 5.88x price/sales. Compared to others, Viper Energy Partners LP is in a different league with regards to profitability, having net margins of 49.8%. To put some perspective around this, the industry’s average net margin is -0.16%. VNOM’s ROE is 24.1%, which is also considerably better than the industry’s ROE of -0.11%. It’s also very liquid in the near term, with a current ratio of 10.8. The stock has a debt/capital of 0.76.
Shares of VNOM have gained 8.9% since the company’s most recent earnings report. Over the past 12 fiscal quarters, Viper Energy Partners LP (NASDAQ:VNOM) has topped consensus earnings estimates in 9 quarters (75%), missed earnings in 3 quarters (25%), whereas at 0 occasion EPS met analyst expectations. VNOM last reported earnings that receded expectations. The company raked in -$0.01 per share, -100.01% change on the same period last year. That was worse than consensus for $0.19. Revenue for the recent quarter stood at $73.67 million, up 24% on last year and below the $78.87 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $59 million to $92.6 million, which should be compared with $70.02 million generated last year. EPS is seen in a range of -$0.09 to $0.43, against the $0.4 reported a year ago.