Viper Energy Partners LP (NASDAQ:VNOM) Price Target Raised to $18.00
Viper Energy Partners LP (NASDAQ:VNOM) had its target price hoisted by investment analysts at Barclays PLC from $17.00 to $18.00 in a note issued to investors on Tuesday. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Barclays PLC’s target price suggests a potential upside of 3.45% from the stock’s previous close.
A number of other research firms have also weighed in on VNOM. Zacks Investment Research raised shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. TheStreet raised shares of Viper Energy Partners from a “c” rating to a “b-” rating in a research note on Monday, April 17th. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Northland Securities set a $24.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Viper Energy Partners in a research note on Friday, May 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.55.
Shares of Viper Energy Partners (NASDAQ VNOM) traded down 1.36% during midday trading on Tuesday, hitting $17.40. 134,505 shares of the company were exchanged. The firm’s 50 day moving average price is $16.06 and its 200 day moving average price is $17.10. Viper Energy Partners has a one year low of $13.53 and a one year high of $19.38. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 23.02 and a beta of 0.96.
Viper Energy Partners (NASDAQ:VNOM) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Analysts forecast that Viper Energy Partners will post $0.90 EPS for the current fiscal year.
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In other news, Director Steven E. West bought 14,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $17.83 per share, for a total transaction of $249,620.00. Following the completion of the acquisition, the director now directly owns 14,000 shares in the company, valued at approximately $249,620. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Hollis bought 2,917 shares of the stock in a transaction dated Friday, May 12th. The stock was purchased at an average price of $17.71 per share, with a total value of $51,660.07. The disclosure for this purchase can be found here. In the last quarter, insiders bought 772,163 shares of company stock valued at $11,186,089.
Several hedge funds have recently made changes to their positions in VNOM. Envestnet Asset Management Inc. purchased a new stake in Viper Energy Partners during the first quarter valued at $121,000. PEAK6 Investments L.P. purchased a new stake in Viper Energy Partners during the first quarter valued at $196,000. Creative Planning raised its stake in 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 valued at $207,000 after buying an additional 12,155 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Viper Energy Partners during the first quarter valued at $235,000. Finally, Credit Suisse AG purchased a new stake in Viper Energy Partners during the first quarter valued at $270,000. Institutional investors own 17.35% 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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