UBS AG Begins Coverage on Viper Energy Partners LP (VNOM)
UBS AG assumed coverage on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a report released on Monday, 99wallstreet.com reports. The brokerage issued a neutral rating and a $18.00 price target on the oil and gas producer’s stock.
Several other equities research analysts also recently weighed in on VNOM. Imperial Capital assumed coverage on Viper Energy Partners in a report on Tuesday, August 15th. They set an outperform rating and a $21.00 price target on the stock. Stifel Nicolaus set a $20.00 price target on Viper Energy Partners and gave the stock a buy rating in a report on Wednesday, August 2nd. Barclays PLC cut their price target on Viper Energy Partners from $19.00 to $17.00 and set an overweight rating on the stock in a report on Thursday, July 13th. Zacks Investment Research upgraded Viper Energy Partners from a hold rating to a strong-buy rating and set a $21.00 price target on the stock in a report on Wednesday, September 27th. Finally, Mizuho upgraded Viper Energy Partners from a neutral rating to a buy rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Viper Energy Partners currently has a consensus rating of Buy and a consensus target price of $20.62.
Shares of Viper Energy Partners (VNOM) opened at 18.95 on Monday. Viper Energy Partners has a 12 month low of $13.53 and a 12 month high of $19.38. The company has a market cap of $2.16 billion, a P/E ratio of 25.07 and a beta of 0.99. The company’s 50-day moving average price is $17.36 and its 200-day moving average price is $17.13.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. The company had revenue of $36.62 million for the quarter, compared to the consensus estimate of $35.79 million. Equities analysts forecast that Viper Energy Partners will post $0.93 EPS for the current fiscal year.
In other news, Director Diamondback Energy, Inc. bought 700,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average cost of $14.38 per share, with a total value of $10,066,000.00. Following the transaction, the director now directly owns 73,150,000 shares in the company, valued at $1,051,897,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Russell Pantermuehl bought 18,487 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average cost of $14.75 per share, with a total value of $272,683.25. Following the completion of the transaction, the vice president now owns 48,487 shares in the company, valued at $715,183.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 756,418 shares of company stock valued at $10,901,466.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PEAK6 Investments L.P. acquired a new stake in shares of Viper Energy Partners in the 1st quarter valued at about $196,000. FMR LLC acquired a new stake in shares of Viper Energy Partners in the 1st quarter valued at about $20,725,000. Ameriprise Financial Inc. boosted its position in shares of Viper Energy Partners by 83.9% in the 1st quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock valued at $1,728,000 after purchasing an additional 43,852 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Viper Energy Partners in the 1st quarter valued at about $121,000. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Viper Energy Partners in the 2nd quarter valued at about $1,510,000. 15.59% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Viper Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viper Energy Partners LP and related stocks with our FREE daily email newsletter.