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.
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 (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.
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 soc vs sox 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.
Viper Energy Partners started at overweight with $34 stock price target at J.P. Morgan
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.
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.
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%.
ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Northern Oil and Gas is an independent upstream operator engaged in the acquisition, exploration, development and production of oil and natural gas properties. Viper Energy Partners is an independent oil & gas exploration and production company. Brent crude, the global oil benchmark, increased 1.6% to $92.06 a barrel on Sep 12. The West Texas Intermediate (WTI) crude also settled 1.8% higher to $88.84 a barrel in the last trading session.
Viper Energy Partners LP Partnership Units Past Events
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.
A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations.
They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. Major oil producers and explorers, rig operators, and pipeline owners are all poised to witness an improvement in their profit margins as oil prices increase. We have, thus, highlighted four such stocks that have a Zacks Rank #2 (Buy) or 3 (Hold).
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 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.
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.
VNOM Related ETFs
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.
- The West Texas Intermediate (WTI) crude also settled 1.8% higher to $88.84 a barrel in the last trading session.
- While a positive trend in earnings estimate revisions doesn’t gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
- OPEC expects oil demand to remain robust this year as well since major economies are expanding at an encouraging pace.
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.
Devon’s (DVN) fourth-quarter earnings are likely to have gained from acquisitions, a low-cost structure and strong commodity prices, while severe weather might’ve offset some of the positives. Viper Energy Partners’ stock is owned by a variety of institutional and retail investors. Insiders that own company stock include Bx Guidon Topco Llc, Frank C Hu, Hof Matthew Kaes Van’t, Holdings LP Blackstone III, Matt Zmigrosky, Spencer D Armour III and Steven E West. Viper Energy Partners’ stock was trading at $31.79 at the beginning of the year. Since then, VNOM stock has decreased by 9.1% and is now trading at $28.90. As an investor, you want to buy stocks with the highest probability of success.
Diamondback Energy’s Subsidiary Plans To Buy Stake In Permian Basin & More, Provides FY24 Outlook
So, price targets should always be treated with a high degree of skepticism. Style is an investment factor that has a meaningful impact https://1investing.in/ on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.
The smaller the standard deviation, the greater the agreement among analysts. But, for VNOM, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company’s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn’t gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
- Granite Ridge Resources is a scaled, non-operated oil and gas exploration and production company.
- So, price targets should always be treated with a high degree of skepticism.
- Viper Energy Partners declared a None dividend on Monday, July 31st.
- Viper Energy Partners’ stock was trading at $31.79 at the beginning of the year.
- 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.
According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. According to 7 analysts, the average rating for VNOM stock is “Strong Buy.” The 12-month stock price forecast is $37.58, which is an increase of 30.94% from the latest price. High-growth stocks tend to represent the technology, healthcare, and communications sectors.
This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover a period from January 1, 1988 through July 31, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.