Northland Securities’ Analyst Provides Guidance for This Canadian Energy Stock

Northland Securities analyst Jeff Grampp reiterated a Buy rating on Viper Energy (VNOM) today and set a price target of $35. The company’s shares closed last Monday at $29.16.

Grampp observed:

“We reiterate our Outperform rating and $35 PT, implying a 2020 yield of 7.4%. Overview: VNOM is acquiring 1,358 net royalty acres with 2Q19 production of 1,400 BOEPD for 5.2MM common units ($150MM transaction value) from Santa Elena Minerals (Private). The acreage has an average net revenue interest of 5.6% and is located primarily in two ranches in with FANG operating over 65% of the acreage. We note the seller will be subject to a 180-day lockup period.”

According to, Grampp is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.8% and a 24.2% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.

Currently, the analyst consensus on Viper Energy is a Strong Buy with an average price target of $40.50.

See today’s analyst top recommended stocks >>

Viper Energy’s market cap is currently $1.83B and has a P/E ratio of 42.78. The company has a Price to Book ratio of 2.29.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Viper Energy Partners LP engages in the acquisition of oil and natural gas properties. It owns, acquires and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts