Viper Energy Partners LP (VNOM) Lifted to B- at TheStreet
Viper Energy Partners LP (NASDAQ:VNOM) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Monday.
Several other equities research analysts have also recently issued reports on VNOM. Stifel Nicolaus set a $20.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Imperial Capital assumed coverage on Viper Energy Partners in a research note on Tuesday. They set an “outperform” rating and a $21.00 target price for the company. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Barclays PLC raised their target price on Viper Energy Partners from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Finally, Northland Securities set a $24.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Viper Energy Partners has an average rating of “Buy” and an average target price of $20.58.
Viper Energy Partners (NASDAQ VNOM) opened at 16.95 on Monday. Viper Energy Partners has a 12-month low of $13.53 and a 12-month high of $19.38. The stock has a market cap of $1.93 billion, a PE ratio of 22.42 and a beta of 0.96. The company’s 50-day moving average price is $16.51 and its 200-day moving average price is $17.20.
Viper Energy Partners (NASDAQ:VNOM) last posted its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $36.62 million during the quarter, compared to analysts’ expectations of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. On average, equities analysts expect that Viper Energy Partners will post $0.92 EPS for the current fiscal year.
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In other news, VP Russell Pantermuehl purchased 18,487 shares of the stock in a transaction dated Friday, July 21st. The stock was acquired at an average cost of $14.75 per share, for a total transaction of $272,683.25. Following the completion of the transaction, the vice president now directly owns 48,487 shares in the company, valued at approximately $715,183.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice purchased 30,811 shares of the stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $14.75 per share, with a total value of $454,462.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 755,246 shares of company stock valued at $10,884,809.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNOM. Envestnet Asset Management Inc. purchased a new position in Viper Energy Partners during the first quarter valued at approximately $121,000. PEAK6 Investments L.P. bought a new position in Viper Energy Partners during the first quarter worth about $196,000. Citadel Advisors LLC bought a new position in Viper Energy Partners during the first quarter worth about $235,000. Creative Planning raised its position in Viper Energy Partners by 1,215.5% in the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after buying an additional 12,155 shares during the period. Finally, Credit Suisse AG bought a new position in Viper Energy Partners during the first quarter worth about $270,000. Institutional investors and hedge funds own 16.81% of the company’s stock.
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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