Viper Energy Partners LP (NASDAQ:VNOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties primarily in North America. It focuses on developing mineral interests in the Permian Basin in West Texas. Viper Energy Partners LP is based in Midland, Texas. “

Several other equities analysts have also recently weighed in on VNOM. Simmons reaffirmed an “overweight” rating and set a $22.00 target price on shares of Viper Energy Partners in a research note on Monday, July 11th. Piper Jaffray Cos. assumed coverage on shares of Viper Energy Partners in a research note on Monday, July 11th. They set an “overweight” rating and a $22.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Viper Energy Partners currently has an average rating of “Buy” and a consensus price target of $20.33.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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Shares of Viper Energy Partners (NASDAQ:VNOM) opened at 16.03 on Wednesday. Viper Energy Partners has a 12-month low of $12.69 and a 12-month high of $20.25. The company’s market capitalization is $1.39 billion. The stock’s 50 day moving average is $16.43 and its 200-day moving average is $17.66.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 15th were paid a $0.189 dividend. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.15. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Thursday, August 11th. Viper Energy Partners’s dividend payout ratio (DPR) is presently -230.30%.

In other Viper Energy Partners news, VP Randall J. Holder acquired 5,000 shares of the company’s 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 purchase, the vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $164,400. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Diamondback Energy, Inc. acquired 2,000,000 shares of the company’s 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 in the company, valued at $1,130,220,000. The disclosure for this purchase can be found here.

Several institutional investors have recently modified their holdings of VNOM. Geode Capital Management LLC boosted its position in shares of Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock worth $539,000 after buying an additional 3,944 shares during the last quarter. Waddell & Reed Financial Inc. boosted 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 worth $14,703,000 after buying an additional 116,100 shares during the last quarter. Boston Partners boosted 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 worth $21,873,000 after buying an additional 177,984 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of 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 worth $31,691,000 after buying an additional 37,264 shares during the last quarter. 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.

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