Viper Energy Partners LP (NASDAQ:VNOM) had its price target lifted by investment analysts at Barclays PLC from $17.00 to $18.00 in a research report issued to clients and investors on Tuesday, August 8th. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s price target points to a potential upside of 12.50% from the stock’s previous close.
VNOM has been the topic of several other research reports. Northland Securities set a $22.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research report on Sunday, July 23rd. Piper Jaffray Companies began coverage on Viper Energy Partners in a research report on Saturday, May 27th. They set a “buy” rating and a $22.00 target price on the stock. Zacks Investment Research cut Viper Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $19.00 target price on shares of Viper Energy Partners in a research report on Friday, July 14th. Finally, TheStreet upgraded Viper Energy Partners from a “c” rating to a “b-” rating in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.58.
Viper Energy Partners (NASDAQ VNOM) traded down 0.31% during mid-day trading on Tuesday, reaching $16.00. The company had a trading volume of 279,603 shares. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 21.16 and a beta of 0.96. The firm’s 50 day moving average price is $16.56 and its 200-day moving average price is $17.18. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. The company had revenue of $36.62 million for the quarter, compared to analysts’ expectations of $35.79 million. Equities research analysts anticipate that Viper Energy Partners will post $0.91 earnings per share for the current year.
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In related news, President Hof Matthew Kaes Van’t bought 3,080 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average price of $14.75 per share, with a total value of $45,430.00. Following the purchase, the president now owns 3,080 shares in the company, valued at $45,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice bought 30,811 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average cost of $14.75 per share, for a total transaction of $454,462.25. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 753,918 shares of company stock worth $10,861,291.
Several hedge funds and other institutional investors have recently modified their holdings of VNOM. PEAK6 Investments L.P. acquired a new position in shares of Viper Energy Partners during the first quarter worth $196,000. FMR LLC acquired a new position in shares of Viper Energy Partners during the first quarter worth $20,725,000. Ameriprise Financial Inc. raised its position in shares of Viper Energy Partners by 83.9% in the first quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock worth $1,728,000 after buying an additional 43,852 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Viper Energy Partners during the first quarter worth $121,000. Finally, First Trust Advisors LP raised its position in shares of Viper Energy Partners by 4.8% in the first quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock worth $6,855,000 after buying an additional 17,415 shares in the last quarter. 16.81% of the stock is currently owned by institutional investors.
About Viper Energy Partners
Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties in North America. The Company’s assets are located in the Permian Basin of West Texas. As of December 31, 2016, the Permian Basin consisted of approximately 85,000 square miles. As of December 31, 2016, its assets consisted of mineral interests underlying 107,568 gross acres in the Permian Basin.
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