Viper Energy Partners LP (NASDAQ:VNOM) has received an average recommendation of “Buy” from the eight ratings firms that are covering the stock. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.20.

VNOM has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. Simmons restated an “overweight” rating and set a $22.00 price target on shares of Viper Energy Partners in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. initiated coverage on shares of Viper Energy Partners in a research report on Monday, July 11th. They set an “overweight” rating and a $22.00 price target for the company.

Viper Energy Partners (NASDAQ:VNOM) opened at 16.28 on Monday. Viper Energy Partners has a 12 month low of $12.69 and a 12 month high of $20.25. The company’s 50-day moving average price is $16.45 and its 200 day moving average price is $17.65. The company’s market capitalization is $1.41 billion.

In other Viper Energy Partners news, Director Diamondback Energy, Inc. purchased 2,000,000 shares of the stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $15.60 per share, with a total value of $31,200,000.00. Following the completion of the purchase, the director now directly owns 72,450,000 shares of the company’s stock, valued at approximately $1,130,220,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Randall J. Holder purchased 5,000 shares of the stock in a transaction on Thursday, September 8th. The stock was acquired at an average cost of $16.44 per share, with a total value of $82,200.00. Following the completion of the purchase, the vice president now directly owns 10,000 shares of the company’s stock, valued at $164,400. The disclosure for this purchase can be found here.

A number of hedge funds have recently bought and sold shares of VNOM. Geode Capital Management LLC increased its stake in Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock valued at $539,000 after buying an additional 3,944 shares in the last quarter. Wellington Management Group LLP increased its stake in Viper Energy Partners by 2.0% in the first quarter. Wellington Management Group LLP now owns 1,943,064 shares of the company’s stock valued at $31,691,000 after buying an additional 37,264 shares in the last quarter. Boston Partners increased its position in shares of Viper Energy Partners by 17.9% in the second quarter. Boston Partners now owns 1,172,815 shares of the company’s stock valued at $21,873,000 after buying an additional 177,984 shares during the period. Finally, Waddell & Reed Financial Inc. increased its position in shares of Viper Energy Partners by 17.3% in the second quarter. Waddell & Reed Financial Inc. now owns 788,382 shares of the company’s stock valued at $14,703,000 after buying an additional 116,100 shares during the period. 7.87% of the stock is owned by institutional investors and hedge funds.

Viper Energy Partners Company Profile

Viper Energy Partners LP is a limited partnership that owns, acquires and exploits oil and natural gas properties in North America. The Company’s business objective is to provide an attractive return to its unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback Energy, Inc and from third parties.

5 Day Chart for NASDAQ:VNOM

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