Zacks Investment Research lowered shares of Viper Energy Partners LP (NASDAQ:VNOM) from a buy rating to a hold rating in a report published on Wednesday morning.
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. “
A number of other research firms also recently commented on VNOM. Barclays PLC decreased their price objective 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, October 11th. Wunderlich reiterated a buy rating and issued a $20.00 target price on shares of Viper Energy Partners in a research note on Saturday, October 15th. Finally, Mizuho began coverage on Viper Energy Partners in a research note on Wednesday, October 5th. They issued a neutral rating and a $17.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $19.14.
Viper Energy Partners (NASDAQ:VNOM) opened at 16.35 on Wednesday. The stock’s 50 day moving average is $15.62 and its 200-day moving average is $16.69. Viper Energy Partners has a 1-year low of $12.69 and a 1-year high of $20.25. The firm’s market capitalization is $1.44 billion.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Viper Energy Partners had a negative net margin of 31.23% and a positive return on equity of 5.24%. Equities research analysts forecast that Viper Energy Partners will post $0.40 EPS for the current year.
Large investors have recently modified their holdings of the stock. Boston Partners boosted its stake in shares of 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 in the last quarter. Waddell & Reed Financial Inc. boosted its stake in shares of 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 in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Viper Energy Partners by 7.0% in the third quarter. Wells Fargo & Company MN now owns 7,693 shares of the company’s stock worth $124,000 after buying an additional 500 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Viper Energy Partners during the third quarter worth $5,261,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Viper Energy Partners during the third quarter worth $403,000. Institutional investors and hedge funds own 13.46% 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.
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