UBS Upgrades Viper Energy Partners (VNOM) to Buy
Viper Energy Partners (NASDAQ:VNOM) was upgraded by research analysts at UBS from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $27.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $19.00. UBS’s target price would indicate a potential upside of 29.25% from the company’s previous close.
VNOM has been the subject of a number of other research reports. Imperial Capital began coverage on Viper Energy Partners in a report on Tuesday, August 15th. They set an “outperform” rating and a $21.00 price target for the company. Citigroup boosted their price target on Viper Energy Partners from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Barclays set a $20.00 price target on Viper Energy Partners and gave the stock a “buy” rating in a report on Monday, October 16th. Northland Securities reissued a “buy” rating and set a $24.00 price target on shares of Viper Energy Partners in a report on Thursday, October 12th. Finally, TheStreet raised Viper Energy Partners from a “c+” rating to a “b-” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.27.
Viper Energy Partners (VNOM) opened at $20.89 on Tuesday. The company has a current ratio of 8.92, a quick ratio of 8.92 and a debt-to-equity ratio of 0.04. Viper Energy Partners has a fifty-two week low of $14.76 and a fifty-two week high of $22.30. The company has a market capitalization of $2,447.32, a price-to-earnings ratio of 24.42, a PEG ratio of 1.48 and a beta of 1.06.
A number of institutional investors and hedge funds have recently modified their holdings of VNOM. Penserra Capital Management LLC acquired a new stake in shares of Viper Energy Partners in the third quarter valued at about $106,000. Creative Planning increased its stake 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 buying an additional 12,155 shares during the period. Credit Suisse AG acquired a new stake in shares of Viper Energy Partners in the first quarter valued at about $270,000. Renaissance Technologies LLC acquired a new stake in shares of Viper Energy Partners in the first quarter valued at about $281,000. Finally, Virtu KCG Holdings LLC increased its stake in shares of Viper Energy Partners by 77.4% in the second quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after buying an additional 8,357 shares during the period. 27.14% of the stock is owned by institutional investors and hedge funds.
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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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