The Viper Energy Partners LP (VNOM) Receives Buy Rating from Northland Securities

The Viper Energy Partners LP (VNOM) Receives Buy Rating from Northland Securities

Northland Securities reiterated their buy rating on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a research report sent to investors on Thursday. The brokerage currently has a $24.00 target price on the oil and gas producer’s stock.

VNOM has been the subject of a number of other research reports. Mizuho raised shares of Viper Energy Partners from a neutral rating to a buy rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of Viper Energy Partners from a sell rating to a hold rating in a research note on Friday, August 4th. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the stock a buy rating in a research note on Wednesday, August 2nd. Barclays PLC decreased their price objective on shares of Viper Energy Partners from $19.00 to $17.00 and set an overweight rating for the company in a research note on Thursday, July 13th. Finally, Scotiabank raised shares of Viper Energy Partners from a sector perform rating to an outperform rating and raised their price objective for the stock from $20.00 to $22.00 in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $20.92.

Viper Energy Partners (NASDAQ:VNOM) traded down 0.74% during midday trading on Thursday, reaching $18.71. The company had a trading volume of 518,593 shares. The company’s 50 day moving average is $17.88 and its 200-day moving average is $17.20. The company has a market capitalization of $2.13 billion, a P/E ratio of 24.75 and a beta of 0.99. Viper Energy Partners has a 52-week low of $13.53 and a 52-week high of $19.83.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The firm had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Equities analysts expect that Viper Energy Partners will post $0.93 earnings per share for the current fiscal year.

In related news, VP Russell Pantermuehl bought 18,487 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was bought at an average price of $14.75 per share, with a total value of $272,683.25. Following the purchase, the vice president now directly owns 48,487 shares of the company’s stock, valued at approximately $715,183.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice bought 30,811 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were bought at an average cost of $14.75 per share, with a total value of $454,462.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 756,418 shares of company stock valued at $10,901,466 in the last three months.

Several large investors have recently modified their holdings of VNOM. FMR LLC acquired a new stake in shares of Viper Energy Partners during the 1st quarter valued at $20,725,000. Bank of America Corp DE boosted its stake in shares of Viper Energy Partners by 21,657.1% during the 1st quarter. Bank of America Corp DE now owns 970,366 shares of the oil and gas producer’s stock valued at $17,448,000 after buying an additional 965,906 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Viper Energy Partners by 141.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,596,303 shares of the oil and gas producer’s stock valued at $28,701,000 after buying an additional 934,700 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of Viper Energy Partners by 54.5% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock valued at $15,069,000 after buying an additional 338,500 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Viper Energy Partners by 46.1% during the 1st quarter. Morgan Stanley now owns 775,899 shares of the oil and gas producer’s stock valued at $13,950,000 after buying an additional 244,794 shares during the period. 15.59% of the stock is owned by institutional investors.

About Viper Energy Partners

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.

Related posts

Leave a Comment