Viper Energy Partners LP (NASDAQ:VNOM) received a $21.00 price objective from investment analysts at Northland Securities in a report issued on Monday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Northland Securities’ price objective would suggest a potential upside of 38.16% from the stock’s current price.
A number of other research firms have also issued reports on VNOM. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price on shares of Viper Energy Partners in a report on Friday, June 30th. Scotiabank reaffirmed a “hold” rating and issued a $20.00 target price on shares of Viper Energy Partners in a report on Monday, March 27th. BidaskClub raised Viper Energy Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Viper Energy Partners in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.91.
Viper Energy Partners (NASDAQ:VNOM) opened at 15.20 on Monday. The firm has a 50 day moving average price of $16.12 and a 200-day moving average price of $17.10. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 39.90 and a beta of 0.93.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The firm had revenue of $33.65 million for the quarter, compared to analyst estimates of $29.06 million. Viper Energy Partners had a return on equity of 9.84% and a net margin of 33.56%. On average, equities analysts forecast that Viper Energy Partners will post $0.93 EPS for the current year.
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In related news, Director Michael L. Hollis bought 2,917 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $17.71 per share, for a total transaction of $51,660.07. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Hollis bought 1,389 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were bought at an average price of $18.00 per share, with a total value of $25,002.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,634 shares of company stock valued at $349,801 in the last 90 days.
Several institutional investors have recently bought and sold shares of VNOM. Raymond James Financial Services Advisors Inc. boosted its stake in Viper Energy Partners by 6.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,045 shares of the oil and gas producer’s stock worth $324,000 after buying an additional 1,095 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Viper Energy Partners during the first quarter worth $121,000. PEAK6 Investments L.P. acquired a new stake in Viper Energy Partners during the first quarter worth $196,000. Wexford Capital LP boosted its stake in Viper Energy Partners by 2.1% in the first quarter. Wexford Capital LP now owns 527,976 shares of the oil and gas producer’s stock worth $9,493,000 after buying an additional 11,028 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in Viper Energy Partners during the fourth quarter worth $193,000. Institutional investors and hedge funds own 20.50% of the company’s stock.
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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