Viper Energy Partners LP (NASDAQ:VNOM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties primarily in North America. It focuses on developing mineral interests in the Permian Basin in West Texas. Viper Energy Partners LP is based in Midland, Texas. “

Other analysts have also recently issued reports about the stock. Barclays PLC reduced their target price on shares of Viper Energy Partners from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday. Piper Jaffray Cos. began coverage on shares of Viper Energy Partners in a report on Monday, July 11th. They set an “overweight” rating and a $22.00 target price for the company. Simmons restated an “overweight” rating and set a $22.00 target price on shares of Viper Energy Partners in a report on Monday, July 11th. Finally, Mizuho began coverage on shares of Viper Energy Partners in a report on Wednesday, October 5th. They set a “neutral” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average 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 0.72% during midday trading on Wednesday, hitting $16.58. 6,290 shares of the stock were exchanged. Viper Energy Partners has a 52 week low of $12.69 and a 52 week high of $20.25. The stock’s market cap is $1.44 billion. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $17.62.

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

Large investors have recently added to or reduced their stakes in the company. Boston Partners increased its stake in 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 during the last quarter. Waddell & Reed Financial Inc. increased its stake in 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 during the last quarter. Wellington Management Group LLP increased its stake in 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 during the last quarter. Institutional investors own 7.87% of the company’s stock.

About Viper Energy Partners

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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