|Day's Range||0.05 - 0.50|
The Dow led mixed stock market action early Wednesday. IBD 50 stock Copart skidded to a sell signal on weak earnings.
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So far in this series, we’ve looked at the top four upstream companies based on analysts’ ratings. Those companies are Viper Energy Partners (VNOM), Earthstone Energy (ESTE), Ring Energy (REI), and WPX Energy (WPX). In this part of the series, we’ll look at Diamondback Energy (FANG), which is in fifth place in terms of analyst ratings.
Viper Energy Partners (VNOM), an upstream company that isn’t directly involved in E&P (exploration and production) activities and is dependent on royalty income from its mineral interests, is Wall Street analysts’ favorite upstream company. VNOM saw two rating upgrades last month. Citigroup and Stifel Nicolaus raised their recommendations to a “buy.” Now, 100% of analysts covering the stock rate it a “buy.” VNOM’s average target price of $41.60 implies a 7% upside potential from its current price.
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Anadarko Petroleum (APC) continues to gain from its focus on domestic assets, and share the benefits with its shareholders through share buybacks and dividend.
Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week. SunTrust Robinson lowered CRZO’s target price to $35 from $36. A total of 71.4% of analysts have rated CRZO as a “buy,” and the remaining 28.6% have rated it as a “hold.”
Viper Energy Partners (VNOM), a mineral interest MLP owned by Diamondback Energy (FANG), is expected to benefit from Diamondback Energy’s merger with Energen Corporation (EGN). Energen Corporation currently owns 266 net royalty acres in the Midland (71) and Delaware (195) Basins. According to the related investor presentation, a significant amount of this acreage has the potential to deliver more than 75.0% NRI (net revenue interest).
Prices have been in a strong uptrend and look to be continuing higher after a failed breakdown below $35.15 and a test of the 200-day moving average (if you're into that sort of thing). Momentum remains in a bullish range, so if prices are above $35.15, our upside objective continues to be $40.75. CyberArk Software Ltd. ( CYBR) is breaking out of a multi-year base to confirm the start of a new structural uptrend. If prices are above $70, we want to be long with an upside objective of $94.30.
Last week, SRC Energy (SRCI) saw a rating downgrade and a target price cut from Baird Equity. Baird Equity downgraded SRC Energy to “neutral,” which is equivalent to “hold” from “outperform,” which is equivalent to “buy.” Baird Equity reduced the target price to $10 from $14. Now, 59.1% of the analysts rate SRC Energy as a “buy,” while 40.9% rate it as a “hold.” Currently, SRC Energy is trading below the low range ($10) of analysts’ target price. The company’s average target price of $14.2 offers ~51% upside from the current price levels.
On August 16, Morgan Stanley resumed coverage on Williams Companies (WMB) with an “overweight” rating on the stock. Morgan Stanley has given a target price of $35 for Williams Companies.
NEW YORK, NY / ACCESSWIRE / August 9, 2018 / Viper Energy Partners LP (NASDAQ: VNOM ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 9, 2018 at 11:30 AM Eastern ...
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Viper Energy (VNOM) delivered earnings and revenue surprises of -18.42% and 9.79%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Midland, Texas-based company said it had profit of $1.35. Earnings, adjusted for pretax gains and non-recurring gains, were 31 cents per share. The results did not meet Wall Street ...
Shale producer Diamondback Energy fell short of earnings estimates late Wednesday and bought more Permian Basin assets, while subsidiary Viper Energy Partners crushed views.
MIDLAND, Texas, Aug. 08, 2018-- Viper Energy Partners LP, a subsidiary of Diamondback Energy, Inc., today announced financial and operating results for the second quarter ended June 30, 2018.. Previously ...
The Nasdaq was on track for a fifth straight advance Monday afternoon thanks to strength in some techs and in its newest big member, PepsiCo.
Strength in Apple stock fueled a modest gain for the Nasdaq composite near midday Wednesday after the index found support at the 50-day moving average Tuesday.
Viper Energy Partners LP (VNOM) (“Viper”), a subsidiary of Diamondback Energy, Inc. (FANG) (“Diamondback”), announced today the pricing of Viper’s public offering of 9,000,000 common units representing limited partner interests at a public offering price of $31.25 per unit. The total gross proceeds of the offering (before underwriters’ discounts and commissions and estimated offering expenses) will be approximately $281.3 million. The underwriters have a 30-day option to purchase up to an additional 1,080,000 common units from Viper.
Viper Energy Partners LP (VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (“Diamondback”), today announced its second quarter 2018 cash distribution, provided an update on second quarter operations and scheduled its second quarter 2018 conference call. The Board of Directors of Viper’s general partner has declared a cash distribution of $0.600 per common unit for the three-month period ended June 30, 2018, payable on August 20, 2018 to common unitholders of record as of the close of business on August 13, 2018.
Viper Energy Partners LP (VNOM) (“Viper”), a subsidiary of Diamondback Energy, Inc. (FANG) (“Diamondback”), announced today that Viper has commenced an underwritten public offering of 9,000,000 common units representing limited partner interests, subject to market and other conditions. Viper anticipates granting the underwriters a 30-day option to purchase up to an additional 1,080,000 common units from Viper. All of the common units to be sold in this offering will be sold by Viper. Viper intends to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, to purchase units of Viper Energy Partners LLC (“Viper Operating Company”).