TheStreet Upgrades Viper Energy Partners LP (VNOM) to “B-“
Viper Energy Partners LP (NASDAQ:VNOM) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Monday.
A number of other brokerages also recently weighed in on VNOM. Zacks Investment Research upgraded Viper Energy Partners from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Stifel Nicolaus set a $20.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Northland Securities set a $24.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $22.00 target price on shares of Viper Energy Partners in a report on Friday, May 26th. Finally, Imperial Capital assumed coverage on Viper Energy Partners in a report on Tuesday, August 15th. They issued an “outperform” rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.58.
Shares of Viper Energy Partners (VNOM) traded down 0.31% during trading on Monday, hitting $16.00. The company had a trading volume of 279,603 shares. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 21.16 and a beta of 0.96. The stock has a 50-day moving average of $16.56 and a 200 day moving average of $17.18. Viper Energy Partners has a 12-month low of $13.53 and a 12-month high of $19.38.
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 for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $36.62 million during the quarter, compared to the consensus estimate of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. On average, analysts predict that Viper Energy Partners will post $0.91 EPS for the current fiscal year.
In related news, Director Diamondback Energy, Inc. bought 700,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $14.38 per share, with a total value of $10,066,000.00. Following the completion of the transaction, the director now directly owns 73,150,000 shares in the company, valued at $1,051,897,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Russell Pantermuehl bought 18,487 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average cost of $14.75 per share, for a total transaction of $272,683.25. Following the transaction, the vice president now owns 48,487 shares of the company’s stock, valued at $715,183.25. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 753,918 shares of company stock valued at $10,861,291.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PEAK6 Investments L.P. bought a new position in shares of Viper Energy Partners during the first quarter valued at about $196,000. FMR LLC bought a new position in shares of Viper Energy Partners during the first quarter valued at about $20,725,000. Ameriprise Financial Inc. boosted its position in shares of Viper Energy Partners by 83.9% in the first quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock valued at $1,728,000 after buying an additional 43,852 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Viper Energy Partners during the first quarter valued at about $121,000. Finally, First Trust Advisors LP boosted its position in shares of Viper Energy Partners by 4.8% in the first quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock valued at $6,855,000 after buying an additional 17,415 shares during the last quarter. 16.81% of the stock is currently owned by institutional investors.
About Viper Energy Partners
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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