Viper Energy Partners LP (NASDAQ:VNOM) received a $24.00 price target from research analysts at Northland Securities in a note issued to investors on Monday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Northland Securities’ price objective would suggest a potential upside of 20.30% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Citigroup Inc. lifted their price objective on shares of Viper Energy Partners from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Barclays PLC set a $21.00 price objective on shares of Viper Energy Partners and gave the stock a “buy” rating in a research note on Thursday, October 26th. Imperial Capital reaffirmed an “in-line” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Viper Energy Partners in a research note on Wednesday, October 4th. UBS AG began coverage on shares of Viper Energy Partners in a research note on Monday, October 2nd. They issued a “neutral” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Viper Energy Partners from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $21.45.

Viper Energy Partners (NASDAQ:VNOM) traded up $0.13 during mid-day trading on Monday, hitting $19.95. 107,900 shares of the company’s stock were exchanged, compared to its average volume of 235,868. Viper Energy Partners has a one year low of $14.27 and a one year high of $20.81. The company has a market cap of $2,270.00, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.92 and a quick ratio of 8.92.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $42.21 million for the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a net margin of 60.87% and a return on equity of 12.08%. Viper Energy Partners’s revenue was up 111.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. sell-side analysts anticipate that Viper Energy Partners will post 0.97 EPS for the current year.

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In related news, Director Michael L. Hollis purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $16.07 per share, for a total transaction of $40,175.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently bought and sold shares of VNOM. CI Global Investments Inc. lifted its stake in Viper Energy Partners by 111.9% in the third quarter. CI Global Investments Inc. now owns 4,098,552 shares of the oil and gas producer’s stock valued at $76,397,000 after acquiring an additional 2,164,352 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Viper Energy Partners by 320.9% in the third quarter. HITE Hedge Asset Management LLC now owns 1,996,005 shares of the oil and gas producer’s stock valued at $37,206,000 after acquiring an additional 1,521,773 shares during the last quarter. FMR LLC acquired a new stake in Viper Energy Partners in the first quarter valued at approximately $20,725,000. SG Capital Management LLC acquired a new stake in Viper Energy Partners in the third quarter valued at approximately $13,619,000. Finally, Boston Partners lifted its stake in Viper Energy Partners by 27.4% in the third quarter. Boston Partners now owns 2,127,350 shares of the oil and gas producer’s stock valued at $39,654,000 after acquiring an additional 457,308 shares during the last quarter. Hedge funds and other institutional investors own 17.96% 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.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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