Viper Energy Partners LP (VNOM) Receives “Buy” Rating from Wunderlich
Wunderlich reaffirmed their buy rating on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a research note issued to investors on Saturday. Wunderlich currently has a $20.00 price objective on the stock.
Several other research analysts also recently issued reports on VNOM. Barclays PLC reduced their price target on shares of Viper Energy Partners from $21.00 to $18.00 and set an overweight rating on the stock in a research report on Tuesday. Zacks Investment Research downgraded shares of Viper Energy Partners from a hold rating to a sell rating in a research report on Wednesday. Simmons reiterated an overweight rating and set a $22.00 price target on shares of Viper Energy Partners in a research report on Monday, July 11th. Mizuho began coverage on shares of Viper Energy Partners in a research report on Wednesday, October 5th. They set a neutral rating and a $17.00 price target on the stock. Finally, Piper Jaffray Cos. began coverage on shares of Viper Energy Partners in a research report on Monday, July 11th. They set an overweight rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $19.63.
Viper Energy Partners (NASDAQ:VNOM) traded up 1.97% on Friday, hitting $16.58. 108,425 shares of the stock traded hands. The stock’s market capitalization is $1.44 billion. Viper Energy Partners has a 12-month low of $12.69 and a 12-month high of $20.25. The company’s 50 day moving average price is $16.30 and its 200-day moving average price is $17.60.
In related news, VP Randall J. Holder purchased 5,000 shares of the stock in a transaction dated Thursday, September 8th. The stock was bought at an average cost of $16.44 per share, with a total value of $82,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diamondback Energy, Inc. purchased 2,000,000 shares of the stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $15.60 per share, with a total value of $31,200,000.00. Following the completion of the purchase, 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.
Several hedge funds have recently made changes to their positions in VNOM. Geode Capital Management LLC boosted 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. Waddell & Reed Financial Inc. boosted 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. Boston Partners boosted 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. Finally, Wellington Management Group LLP boosted 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. 7.87% of the stock is owned by institutional investors.
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.
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