Viper Energy Partners LP (VNOM) Stock Rating Reaffirmed by Imperial Capital
Viper Energy Partners LP (NASDAQ:VNOM)‘s stock had its “in-line” rating reiterated by Imperial Capital in a research note issued to investors on Wednesday. They currently have a $23.00 price target on the oil and gas producer’s stock, up from their prior price target of $21.00. Imperial Capital’s price target indicates a potential upside of 21.37% from the company’s current price.
VNOM has been the subject of a number of other reports. Scotiabank reiterated a “hold” rating and issued a $20.00 price target on shares of Viper Energy Partners in a research note on Friday, June 30th. Northland Securities set a $21.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Monday, July 17th. BidaskClub upgraded shares of Viper Energy Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Viper Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Piper Jaffray Companies cut their target price on shares of Viper Energy Partners from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.62.
Viper Energy Partners (NASDAQ:VNOM) traded down 0.32% on Wednesday, reaching $18.95. The company’s stock had a trading volume of 114,710 shares. The company’s 50 day moving average price is $17.30 and its 200-day moving average price is $17.12. 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 $2.16 billion, a PE ratio of 25.07 and a beta of 0.99.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $35.79 million. On average, equities analysts expect that Viper Energy Partners will post $0.93 EPS for the current year.
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In other Viper Energy Partners news, VP Russell Pantermuehl purchased 18,487 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average cost of $14.75 per share, with a total value of $272,683.25. Following the acquisition, the vice president now owns 48,487 shares in the company, valued at $715,183.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Travis D. Stice purchased 30,811 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was acquired 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. Insiders bought 756,418 shares of company stock worth $10,901,466 over the last 90 days.
Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new stake in Viper Energy Partners during the 1st quarter valued at approximately $121,000. PEAK6 Investments L.P. purchased a new position in shares of Viper Energy Partners in the first quarter worth $196,000. Citadel Advisors LLC purchased a new position in shares of Viper Energy Partners in the first quarter worth $235,000. Creative Planning lifted its holdings in shares of 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 in the last quarter. Finally, Credit Suisse AG purchased a new position in shares of Viper Energy Partners in the first quarter worth $270,000. Institutional investors and hedge funds own 15.59% 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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