Viper Energy Partners’ (VNOM) “In-Line” Rating Reaffirmed at Imperial Capital
Viper Energy Partners LP (NASDAQ:VNOM)‘s stock had its “in-line” rating reiterated by Imperial Capital in a report issued on Wednesday. They presently have a $23.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $21.00. Imperial Capital’s price target would indicate a potential upside of 21.37% from the company’s current price.
A number of other equities analysts have also commented on VNOM. Stifel Nicolaus set a $20.00 target price on shares of Viper Energy Partners and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC reduced their target price on shares of Viper Energy Partners from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Viper Energy Partners from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, September 27th. Mizuho raised shares of Viper Energy Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, UBS AG assumed coverage on shares of Viper Energy Partners in a research report on Monday. They set a “neutral” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Viper Energy Partners has a consensus rating of “Buy” and a consensus target price of $20.62.
Viper Energy Partners (VNOM) traded down 0.32% on Wednesday, hitting $18.95. The company’s stock had a trading volume of 114,710 shares. The firm has a 50 day moving average of $17.30 and a 200 day moving average of $17.12. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 25.07 and a beta of 0.99. 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. Equities research analysts forecast that Viper Energy Partners will post $0.93 earnings per share for the current fiscal year.
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In other news, Director Diamondback Energy, Inc. purchased 700,000 shares of the business’s stock in a transaction on Friday, July 21st. The shares were acquired at an average cost of $14.38 per share, with a total value of $10,066,000.00. Following the completion of the acquisition, the director now owns 73,150,000 shares of the company’s stock, valued at $1,051,897,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Travis D. Stice purchased 30,811 shares of the business’s stock in a transaction on Friday, July 21st. The stock was purchased at an average cost of $14.75 per share, for a total transaction of $454,462.25. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 756,418 shares of company stock worth $10,901,466.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new position in Viper Energy Partners in the first quarter worth $121,000. PEAK6 Investments L.P. purchased a new position in Viper Energy Partners in the first quarter worth $196,000. Citadel Advisors LLC purchased a new position in Viper Energy Partners in the first quarter worth $235,000. Creative Planning grew its holdings 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 worth $207,000 after purchasing an additional 12,155 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in Viper Energy Partners in the first quarter worth $270,000. 15.59% of the stock is currently owned by institutional investors and hedge funds.
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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