Imperial Capital Reaffirms “In-Line” Rating for Viper Energy Partners LP (VNOM)
Imperial Capital restated their in-line rating on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a research note released on Wednesday. The firm currently has a $23.00 price target on the oil and gas producer’s stock, up from their previous price target of $21.00. Imperial Capital also issued estimates for Viper Energy Partners’ Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.88 EPS and FY2018 earnings at $1.18 EPS.
VNOM has been the subject of several other research reports. Mizuho raised Viper Energy Partners from a neutral rating to a buy rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Viper Energy Partners from a sell rating to a hold rating in a report on Friday, August 4th. Stifel Nicolaus set a $20.00 price objective on Viper Energy Partners and gave the stock a buy rating in a report on Wednesday, August 2nd. Northland Securities set a $21.00 price target on Viper Energy Partners and gave the company a buy rating in a report on Monday, July 17th. Finally, Barclays PLC cut their price target on Viper Energy Partners from $19.00 to $17.00 and set an overweight rating for the company in a report on Thursday, July 13th. 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 issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $20.92.
Viper Energy Partners (NASDAQ:VNOM) opened at 19.36 on Wednesday. The company has a market cap of $2.20 billion, a P/E ratio of 25.61 and a beta of 0.99. Viper Energy Partners has a 1-year low of $13.53 and a 1-year high of $19.44. The stock’s 50 day moving average price is $17.52 and its 200 day moving average price is $17.16.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS 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 during the quarter, compared to analyst estimates of $35.79 million. On average, equities analysts anticipate that Viper Energy Partners will post $0.93 earnings per share for the current fiscal year.
In other Viper Energy Partners news, VP Russell Pantermuehl acquired 18,487 shares of the stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $272,683.25. Following the completion of the transaction, the vice president now directly owns 48,487 shares of the company’s stock, valued at $715,183.25. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice acquired 30,811 shares of the stock in a transaction dated Friday, July 21st. The stock was acquired at an average price of $14.75 per share, for a total transaction of $454,462.25. The disclosure for this purchase can be found here. Insiders bought 756,418 shares of company stock worth $10,901,466 over the last 90 days.
Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new position in shares of Viper Energy Partners in the first quarter valued at about $121,000. PEAK6 Investments L.P. purchased a new position in shares of Viper Energy Partners in the first quarter valued at about $196,000. Citadel Advisors LLC purchased a new position in shares of Viper Energy Partners in the first quarter valued at about $235,000. Creative Planning lifted its position in shares of Viper Energy Partners by 1,215.5% in the second quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock valued at $207,000 after acquiring an additional 12,155 shares in the last quarter. Finally, Credit Suisse AG purchased a new position in shares of Viper Energy Partners in the first quarter valued at about $270,000. Institutional investors and hedge funds own 15.59% of the company’s stock.
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.
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