Viper Energy Partners LP (NASDAQ:VNOM) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.33.
VNOM has been the subject of several recent research reports. Credit Suisse Group AG upgraded Viper Energy Partners from a “neutral” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, January 31st. Scotiabank reiterated a “hold” rating and issued a $20.00 price target on shares of Viper Energy Partners in a report on Monday, March 27th. Raymond James Financial, Inc. upgraded Viper Energy Partners from a “market perform” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, February 21st. TheStreet upgraded Viper Energy Partners from a “c” rating to a “b-” rating in a report on Monday. Finally, Zacks Investment Research downgraded Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st.
In other Viper Energy Partners news, Director Michael L. Hollis bought 2,840 shares of the stock in a transaction dated Tuesday, March 21st. The stock was bought at an average cost of $17.60 per share, for a total transaction of $49,984.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Several hedge funds have recently made changes to their positions in VNOM. Wells Fargo & Company MN increased its stake in shares of Viper Energy Partners by 7.0% in the third quarter. Wells Fargo & Company MN now owns 7,693 shares of the oil and gas producer’s stock valued at $124,000 after buying an additional 500 shares in the last quarter. Zacks Investment Management bought a new position in shares of Viper Energy Partners during the third quarter valued at approximately $186,000. A.R.T. Advisors LLC bought a new position in shares of Viper Energy Partners during the fourth quarter valued at approximately $193,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Viper Energy Partners during the fourth quarter valued at approximately $271,000. Finally, WFG Advisors LP bought a new position in shares of Viper Energy Partners during the fourth quarter valued at approximately $526,000. Institutional investors own 12.88% of the company’s stock.
Shares of Viper Energy Partners (NASDAQ:VNOM) traded down 0.23% during midday trading on Monday, hitting $17.64. The stock had a trading volume of 13,743 shares. Viper Energy Partners has a 12-month low of $13.53 and a 12-month high of $20.25. The stock has a 50-day moving average price of $17.84 and a 200-day moving average price of $16.63. The stock’s market cap is $1.55 billion.
Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Viper Energy Partners had a positive return on equity of 5.24% and a negative net margin of 31.23%. The firm earned $27.92 million during the quarter, compared to the consensus estimate of $27.21 million. Equities analysts forecast that Viper Energy Partners will post $0.87 earnings per share for the current year.
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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