Shares of Viper Energy Partners LP (NASDAQ:VNOM) have received a consensus rating of “Buy” from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.18.
A number of brokerages recently commented on VNOM. Northland Securities set a $22.00 target price on Viper Energy Partners and gave the company a “buy” rating in a research report on Sunday, July 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 target price on shares of Viper Energy Partners in a research report on Friday, July 14th. Imperial Capital began coverage on Viper Energy Partners in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $21.00 target price on the stock. TheStreet upgraded Viper Energy Partners from a “c+” rating to a “b-” rating in a research report on Monday, August 14th. Finally, Piper Jaffray Companies lowered their price objective on Viper Energy Partners from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th.
In other Viper Energy Partners news, Director Michael L. Hollis bought 2,500 shares of Viper Energy Partners stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $16.07 per share, with a total value of $40,175.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Viper Energy Partners by 9.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,771 shares of the oil and gas producer’s stock worth $310,000 after buying an additional 1,726 shares during the period. Scholtz & Company LLC raised its stake in shares of Viper Energy Partners by 0.9% during the 2nd quarter. Scholtz & Company LLC now owns 69,345 shares of the oil and gas producer’s stock worth $1,089,000 after buying an additional 625 shares during the period. Williams Jones & Associates LLC raised its stake in shares of Viper Energy Partners by 74.3% during the 2nd quarter. Williams Jones & Associates LLC now owns 236,075 shares of the oil and gas producer’s stock worth $3,706,000 after buying an additional 100,600 shares during the period. Virtu KCG Holdings LLC raised its stake in shares of Viper Energy Partners by 77.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock worth $301,000 after buying an additional 8,357 shares during the period. Finally, FMR LLC raised its stake in shares of Viper Energy Partners by 26.2% during the 2nd quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock worth $22,845,000 after buying an additional 302,400 shares during the period. 15.59% of the stock is owned by institutional investors and hedge funds.
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Shares of Viper Energy Partners (VNOM) traded down 1.11% during trading on Friday, hitting $18.63. 131,412 shares of the stock traded hands. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 24.64 and a beta of 0.99. The stock has a 50 day moving average of $18.26 and a 200 day moving average of $17.25. Viper Energy Partners has a 52-week low of $13.53 and a 52-week high of $19.83.
Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. Analysts expect that Viper Energy Partners will post $0.94 EPS for the current year.
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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