Viper Energy Partners LP (NASDAQ:VNOM) has been given a $22.00 price target by investment analysts at Northland Securities in a research report issued on Sunday, July 23rd. The firm presently has a “buy” rating on the oil and gas producer’s stock. Northland Securities’ price target suggests a potential upside of 37.50% from the company’s current price.
VNOM has been the subject of several other research reports. Credit Suisse Group reissued an “outperform” rating and issued a $22.00 price objective on shares of Viper Energy Partners in a research note on Friday, June 2nd. TheStreet raised shares of Viper Energy Partners from a “c” rating to a “b-” rating in a research note on Monday, April 17th. Citigroup Inc. started coverage on shares of Viper Energy Partners in a research note on Friday, March 31st. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research lowered shares of Viper Energy Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Scotiabank reissued a “hold” rating and issued a $20.00 price objective on shares of Viper Energy Partners in a research note on Monday, March 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Viper Energy Partners has a consensus rating of “Buy” and a consensus price target of $20.58.
Shares of Viper Energy Partners (NASDAQ VNOM) traded down 0.31% during midday trading on Friday, reaching $16.00. 279,603 shares of the company’s stock were exchanged. Viper Energy Partners has a one year low of $13.53 and a one year high of $19.38. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.16 and a beta of 0.96. The firm has a 50 day moving average of $16.56 and a 200-day moving average of $17.18.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The business had revenue of $36.62 million during the quarter, compared to analyst estimates of $35.79 million. On average, equities research analysts anticipate that Viper Energy Partners will post $0.91 earnings per share for the current year.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t bought 3,080 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $14.75 per share, with a total value of $45,430.00. Following the acquisition, the president now directly owns 3,080 shares of the company’s stock, valued at approximately $45,430. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Diamondback Energy, Inc. acquired 700,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average price of $14.38 per share, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now owns 73,150,000 shares in the company, valued at $1,051,897,000. The disclosure for this purchase can be found here. Insiders bought a total of 753,918 shares of company stock worth $10,861,291 over the last ninety days.
A number of institutional investors have recently bought and sold shares of VNOM. FMR LLC purchased a new position in Viper Energy Partners during the first quarter worth $20,725,000. Wellington Management Group LLP raised its position in Viper Energy Partners by 39.6% in the first quarter. Wellington Management Group LLP now owns 5,968,490 shares of the oil and gas producer’s stock worth $107,313,000 after buying an additional 1,693,392 shares during the period. Envestnet Asset Management Inc. purchased a new position in Viper Energy Partners during the first quarter worth $121,000. Raymond James Financial Services Advisors Inc. raised its position in Viper Energy Partners by 6.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,045 shares of the oil and gas producer’s stock worth $324,000 after buying an additional 1,095 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in Viper Energy Partners by 176.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 621,500 shares of the oil and gas producer’s stock worth $11,171,000 after buying an additional 396,500 shares during the period. Hedge funds and other institutional investors own 16.81% of the company’s stock.
Viper Energy Partners Company Profile
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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