Viper Energy Partners Hits New 12-Month Low After Analyst Downgrade (VNOM)
Viper Energy Partners (NASDAQ:VNOM) shares hit a new 52-week low during mid-day trading on Wednesday after Robert W. Baird lowered their price target on the stock from $36.00 to $33.00, StockRatingsNetwork.com reports. Robert W. Baird currently has a neutral rating on the stock. Viper Energy Partners traded as low as $30.35 and last traded at $30.79, with a volume of 185,635 shares traded. The stock had previously closed at $31.34.
A number of other firms have also recently commented on VNOM. Analysts at Northland Securities initiated coverage on shares of Viper Energy Partners in a research note on Wednesday, July 16th. They set a “market perform” rating and a $34.00 price target on the stock. Separately, analysts at Wunderlich initiated coverage on shares of Viper Energy Partners in a research note on Monday, July 14th. They set a “buy” rating and a $41.00 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Viper Energy Partners in a research note on Monday, July 14th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.67.
The stock has a 50-day moving average of $32.92 and a 200-day moving average of $32.92. The company’s market cap is $2.313 billion.
Viper Energy Partners LP is a limited partnership formed by Diamondback Energy, Inc (NASDAQ:VNOM) to own, acquire and exploit oil and natural gas properties in North America.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.