Scotiabank Set “Hold” Rating for Viper Energy Partners LP (VNOM)

Scotiabank Set “Hold” Rating for Viper Energy Partners LP (VNOM)

Viper Energy Partners LP (NASDAQ:VNOM)‘s stock had its “hold” rating reiterated by equities research analysts at Scotiabank in a note issued to investors on Monday. They currently have a $20.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 12.68% from the company’s current price.

Several other analysts have also recently weighed in on VNOM. Zacks Investment Research raised Viper Energy Partners from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, December 20th. Raymond James Financial, Inc. raised Viper Energy Partners from a “market perform” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a report on Tuesday, February 21st. Finally, Credit Suisse Group AG raised Viper Energy Partners from a “neutral” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, January 31st. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.11.

Viper Energy Partners (NASDAQ:VNOM) traded down 0.06% during trading on Monday, hitting $17.75. The company had a trading volume of 127,936 shares. The stock’s market capitalization is $1.56 billion. The company’s 50 day moving average price is $17.77 and its 200-day moving average price is $16.43. Viper Energy Partners has a 1-year low of $13.53 and a 1-year high of $20.25.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings results on Tuesday, February 14th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Viper Energy Partners had a positive return on equity of 5.24% and a negative net margin of 31.23%. On average, analysts expect that Viper Energy Partners will post $0.88 EPS for the current year.

In other news, Director Michael L. Hollis acquired 2,840 shares of Viper Energy Partners stock in a transaction dated Tuesday, March 21st. The shares were purchased at an average cost of $17.60 per share, for a total transaction of $49,984.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position 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 valued at $124,000 after buying an additional 500 shares during the period. First Trust Advisors LP purchased a new position in shares of Viper Energy Partners during the third quarter valued at approximately $5,261,000. SG Americas Securities LLC purchased a new position in shares of Viper Energy Partners during the third quarter valued at approximately $4,531,000. Boston Partners raised its position in shares of Viper Energy Partners by 30.1% in the third quarter. Boston Partners now owns 1,525,315 shares of the company’s stock valued at $24,634,000 after buying an additional 352,500 shares during the period. Finally, BB&T Securities LLC purchased a new position in shares of Viper Energy Partners during the third quarter valued at approximately $908,000. Hedge funds and other institutional investors own 12.88% of the company’s stock.

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.

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