Viper Energy Partners LP (VNOM) Price Target Lowered to $18.00 at Barclays PLC
Viper Energy Partners LP (NASDAQ:VNOM) had its price target lowered by stock analysts at Barclays PLC from $21.00 to $18.00 in a note issued to investors on Tuesday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 6.32% from the stock’s current price.
A number of other research firms also recently weighed in on VNOM. Zacks Investment Research downgraded shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Simmons reissued an “overweight” rating and set a $22.00 target price on shares of Viper Energy Partners in a research report on Monday, July 11th. Mizuho began coverage on shares of Viper Energy Partners in a research report on Wednesday, October 5th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, Piper Jaffray Cos. began coverage on shares of Viper Energy Partners in a research report on Monday, July 11th. They set an “overweight” rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.57.
Shares of Viper Energy Partners (NASDAQ:VNOM) traded down 1.30% during mid-day trading on Tuesday, reaching $16.71. The company’s stock had a trading volume of 85,119 shares. Viper Energy Partners has a 12 month low of $12.69 and a 12 month high of $20.25. The company has a 50 day moving average price of $16.32 and a 200 day moving average price of $17.63. The stock’s market capitalization is $1.45 billion.
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In related news, VP Randall J. Holder bought 5,000 shares of Viper Energy Partners stock in a transaction that occurred on Thursday, September 8th. The stock was acquired at an average price of $16.44 per share, for a total transaction of $82,200.00. Following the completion of the purchase, the vice president now owns 10,000 shares in the company, valued at $164,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diamondback Energy, Inc. bought 2,000,000 shares of Viper Energy Partners stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average price of $15.60 per share, with a total value of $31,200,000.00. Following the purchase, the director now owns 72,450,000 shares of the company’s stock, valued at approximately $1,130,220,000. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock valued at $539,000 after buying an additional 3,944 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 valued at $31,691,000 after buying an additional 37,264 shares during the last quarter. Waddell & Reed Financial Inc. boosted its stake in Viper Energy Partners by 17.3% in the second quarter. Waddell & Reed Financial Inc. now owns 788,382 shares of the company’s stock valued at $14,703,000 after buying an additional 116,100 shares during the last quarter. Finally, Boston Partners boosted its stake in Viper Energy Partners by 17.9% in the second quarter. Boston Partners now owns 1,172,815 shares of the company’s stock valued at $21,873,000 after buying an additional 177,984 shares during the last quarter. Institutional investors and hedge funds own 7.87% of the company’s stock.
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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