Viper Energy Partners LP (VNOM) Price Target Cut to $20.00
Viper Energy Partners LP (NASDAQ:VNOM) had its price objective cut by equities researchers at Piper Jaffray Companies from $22.00 to $20.00 in a report released on Monday. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 14.94% from the stock’s previous close.
A number of other research analysts also recently issued reports on the stock. Imperial Capital initiated coverage on shares of Viper Energy Partners in a research report on Tuesday, August 15th. They set an “outperform” rating and a $21.00 price objective on the stock. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC boosted their price objective on shares of Viper Energy Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Viper Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Mizuho raised shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.42.
Shares of Viper Energy Partners (NASDAQ:VNOM) traded down 0.06% during trading on Monday, reaching $17.39. 21,812 shares of the company’s stock traded hands. The company’s 50-day moving average is $17.02 and its 200 day moving average is $17.09. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 23.00 and a beta of 0.96. Viper Energy Partners has a 52-week low of $13.53 and a 52-week 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 EPS for the quarter, topping the 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 company had revenue of $36.62 million for the quarter, compared to the consensus estimate of $35.79 million. Equities analysts forecast that Viper Energy Partners will post $0.91 EPS for the current year.
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In other news, VP Russell Pantermuehl bought 18,487 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average cost of $14.75 per share, with a total value of $272,683.25. Following the acquisition, the vice president now owns 48,487 shares of the company’s stock, valued at approximately $715,183.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis D. Stice bought 30,811 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average cost of $14.75 per share, with a total value of $454,462.25. The disclosure for this purchase can be found here. Insiders have bought a total of 756,418 shares of company stock valued at $10,901,466 in the last ninety days.
A number of institutional investors have recently added to or reduced their stakes in VNOM. Envestnet Asset Management Inc. purchased a new stake in Viper Energy Partners in the 1st quarter worth approximately $121,000. PEAK6 Investments L.P. purchased a new stake in Viper Energy Partners in the 1st quarter worth approximately $196,000. Creative Planning increased its holdings in Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after acquiring an additional 12,155 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Viper Energy Partners in the 1st quarter worth approximately $235,000. Finally, Credit Suisse AG purchased a new stake in Viper Energy Partners in the 1st quarter worth approximately $270,000. 15.59% of the stock is owned by institutional investors.
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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