Recent extremely meaningful positive changes in investment behavior have benefitted Viper Energy Partners LP (NASDAQ: VNOM): the stock rose on very heavy volume, and its longer term price trend turned up.
Recent important positive changes in fundamentals have benefitted Viper Energy Partners LP (NASDAQ: VNOM): the stock’s power rating rose above 70, and the consensus estimate for December, 2023 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, VNOM is expected to continue to be a major Value Builder.
Viper Energy Partners has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Viper Energy Partners has a poor Appreciation Score of 16 but a good Power Rating of 77, leading to the Low Neutral Value Trend Rating.
Recent Price Action
Viper Energy Partners LP (NASDAQ: VNOM) stock closed at $30.82 on 11/30/23 after a modest gain of 0.7%. Moreover, exceptionally high trading volume at 204% of normal accompanied the advance. The stock has risen 2.3% during the last week and has been strong relative to the market over the last nine months.
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