You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted https://1investing.in/ as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy.
- On average, they anticipate the company’s stock price to reach $37.69 in the next twelve months.
- VNOM’s beta can be found in Trading Information at the top of this page.
- Evolution Petroleum is a development-stage company formed to acquire and develop oil and gas fields.
- Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.
8 Wall Street analysts have issued 1-year price targets for Viper Energy Partners’ shares. On average, they anticipate the company’s stock price to reach $37.69 in the next twelve months. This suggests a possible upside of 30.4% from the stock’s current price. View analysts price targets for VNOM or view top-rated stocks among Wall Street analysts. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Viper Energy Partners was formed by Diamondback Energy in 2014 to own mineral royalty interests in oil and natural gas properties primarily in the Permian Basin. At the end of 2020, Viper owns 24,350 net royalty acres that produced 26,551 boe/d. Proved reserves are mostly oil, and at the end of 2020 stand at 99,392 mboe. Optimism over a rise in demand for oil coupled with tightening of supply through output cuts has bolstered the price of oil.
Financial Performance
Meanwhile, trimming of output by oil producers has also perked up oil prices lately. Russia is expected to curtail its oil exports by 300,000 barrels a day till the end of this year. Similarly, Saudi Arabia is aiming to extend its production cut of 1 million barrels a day for another three months till the end of December 2023. With oil prices now hitting their highest level this year, stocks such as Granite Ridge Resources, Inc. GRNT, Viper Energy Partners VNOM, Evolution Petroleum EPM and Northern Oil and Gas NOG are well-positioned to gain shortly. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI.
After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. 8 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Viper Energy Partners in the last twelve months. The consensus among Wall Street analysts is that investors should “buy” VNOM shares. While that doesn’t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
Viper Energy Partners Stock (NASDAQ:VNOM), Quotes and News Summary
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice. Viper Energy Partners saw a decrease in short interest in the month of August. As of August 31st, there was short interest totaling 603,600 shares, a decrease of 27.0% from the August 15th total of 826,700 shares. Based on an average daily trading volume, of 375,800 shares, the short-interest ratio is presently 1.6 days.
OPEC expects oil demand to remain robust this year as well since major economies are expanding at an encouraging pace. By the way, an expansion in China’s manufacturing activity in August is expected to provide the country the wherewithal to import oil and boost demand. Oil prices scaled upward after the Organization of the Petroleum Exporting Countries regression is a statistical technique developed by blaise pascal (OPEC) recently said that the global oil demand is expected to remain robust amid tighter supply. Both prices have now hit the highest level since November 2022, and have remained overbought for eight consecutive days. Oil prices scaled northward following bullish technical indications, and are now widely expected to reach $100-$102 a barrel soon.
NASDAQ: VNOM
Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. The average comprises nine short-term price targets ranging from a low of $30 to a high of $45, with a standard deviation of $4.10. While the lowest estimate indicates an increase of 4.8% from the current price level, the most optimistic estimate points to a 57.2% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates.
Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. The Zacks Consensus Estimate for the current year has increased 29.2% over the past month, as five estimates have gone higher compared to no negative revision. The Barchart Technical Opinion rating is a 40% Buy with a Strengthening short term outlook on maintaining the current direction.
An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Plus, VNOM info will be updated daily in your Zacks.com Portfolio Tracker – also free. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
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That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. VNOM’s beta can be found in Trading Information at the top of this page.
Going by the price targets, the mean estimate of $36.72 indicates a potential upside of 28.3%. The Zacks Consensus Estimate for its next-year earnings has moved up 2.5% over the past 90 days. The company’s expected earnings growth rate for the current year is 11.6%.
Sign-up to receive the latest news and ratings for Viper Energy Partners and its competitors with MarketBeat’s FREE daily newsletter. Viper Energy Partners LP VNOM, +1.91% said Tuesday it agreed to pay about $1 billion in cash and stock to buy mineral and royalty interests in the Permian Basin from Warwick Capital Partners and GRP E… The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%.
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Granite Ridge Resources is a scaled, non-operated oil and gas exploration and production company. Viper Energy Partners declared a None dividend on Monday, July 31st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.09 per share on Thursday, August 17th. Evolution Petroleum is a development-stage company formed to acquire and develop oil and gas fields. OPEC expects the demand for oil to increase by 2.25 million barrels per day (bpd) across the globe in 2024.
Trading Services
Higher commodity prices are likely to have aided SM Energy’s (SM) Q4 earnings. One share of VNOM stock can currently be purchased for approximately $28.90. The company is scheduled to release its next quarterly earnings announcement on Monday, November 6th 2023. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.5% over the past 60 days. The company’s expected earnings growth rate for the current year is 20.8%. The Zacks Consensus Estimate for its current-year earnings has moved up 44.2% over the past 60 days. The Zacks Consensus Estimate for its current-year earnings has moved up 6.9% over the past 60 days. There has been increasing optimism among analysts lately about the company’s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock.
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Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Therefore, while the consensus price target may not be a reliable indicator of how much VNOM could gain, the direction of price movement it implies does appear to be a good guide. A quarterly cash dividend of $0.09 per share of Class A Common Stock. The quarterly cash dividend was payable on August 17, 2023 to stockholders of record on August 9, 2023.
The technique has proven to be very useful for finding positive surprises. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.