Viper Energy Partners LP (NASDAQ:VNOM) had its price target reduced by research analysts at Barclays PLC from $21.00 to $18.00 in a research report issued on Tuesday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s target price would indicate a potential upside of 6.32% from the company’s current price.

VNOM has been the subject of a number of other research reports. Zacks Investment Research downgraded Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Mizuho started coverage on Viper Energy Partners in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $17.00 price objective for the company. Simmons reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Viper Energy Partners in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. started coverage on Viper Energy Partners in a research report on Monday, July 11th. They issued an “overweight” rating and a $22.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Viper Energy Partners has a consensus rating of “Buy” and a consensus target price of $19.57.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

Viper Energy Partners (NASDAQ:VNOM) traded down 1.30% during trading on Tuesday, reaching $16.71. The company had a trading volume of 85,119 shares. The company’s market capitalization is $1.45 billion. Viper Energy Partners has a 12 month low of $12.69 and a 12 month high of $20.25. The firm’s 50 day moving average is $16.32 and its 200-day moving average is $17.63.

In related news, VP Randall J. Holder acquired 5,000 shares of Viper Energy Partners stock in a transaction on Thursday, September 8th. The shares were bought at an average price of $16.44 per share, for a total transaction of $82,200.00. Following the completion of the purchase, the vice president now directly owns 10,000 shares in the company, valued at approximately $164,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diamondback Energy, Inc. acquired 2,000,000 shares of Viper Energy Partners stock in a transaction on Monday, August 1st. The shares were bought at an average price of $15.60 per share, for a total transaction of $31,200,000.00. Following the purchase, the director now owns 72,450,000 shares of the company’s stock, valued at $1,130,220,000. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock worth $539,000 after buying an additional 3,944 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of Viper Energy Partners by 17.3% in the second quarter. Waddell & Reed Financial Inc. now owns 788,382 shares of the company’s stock worth $14,703,000 after buying an additional 116,100 shares in the last quarter. Boston Partners boosted its position in shares of Viper Energy Partners by 17.9% in the second quarter. Boston Partners now owns 1,172,815 shares of the company’s stock worth $21,873,000 after buying an additional 177,984 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Viper Energy Partners by 2.0% in the first quarter. Wellington Management Group LLP now owns 1,943,064 shares of the company’s stock worth $31,691,000 after buying an additional 37,264 shares in the last quarter. Institutional investors own 7.87% of the company’s stock.

Viper Energy Partners Company Profile

Viper Energy Partners LP is a limited partnership that owns, acquires and exploits oil and natural gas properties in North America. The Company’s business objective is to provide an attractive return to its unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback Energy, Inc and from third parties.

5 Day Chart for NASDAQ:VNOM

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