Viper Energy Partners LP (VNOM) Given In-Line Rating at Imperial Capital
Imperial Capital reiterated their in-line rating on shares of Viper Energy Partners LP (NASDAQ:VNOM) in a report published on Wednesday morning. They currently have a $23.00 price objective on the oil and gas producer’s stock, up from their prior price objective 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.
A number of other analysts have also issued reports on VNOM. Stifel Nicolaus set a $20.00 price objective on shares of Viper Energy Partners and gave the company a buy rating in a research note on Wednesday, August 2nd. Barclays PLC dropped their price objective on shares of Viper Energy Partners from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Viper Energy Partners from a hold rating to a strong-buy rating and set a $21.00 price objective on the stock in a research note on Wednesday, September 27th. Mizuho upgraded shares of Viper Energy Partners from a neutral rating to a buy rating in a research note on Wednesday, August 23rd. Finally, UBS AG assumed coverage on shares of Viper Energy Partners in a research note on Monday. They set a neutral rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $20.62.
Shares of Viper Energy Partners (NASDAQ:VNOM) traded up 1.42% on Wednesday, hitting $19.22. 178,738 shares of the company were exchanged. The firm has a market cap of $2.19 billion, a P/E ratio of 25.42 and a beta of 0.99. Viper Energy Partners has a 52-week low of $13.53 and a 52-week high of $19.38. The company has a 50-day moving average price of $17.36 and a 200 day moving average price of $17.13.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, beating 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. Analysts predict that Viper Energy Partners will post $0.93 EPS for the current fiscal year.
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In other news, CEO Travis D. Stice purchased 30,811 shares of Viper Energy Partners stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $14.75 per share, with a total value of $454,462.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diamondback Energy, Inc. purchased 700,000 shares of Viper Energy Partners stock in a transaction dated Friday, July 21st. The shares were purchased at an average cost of $14.38 per share, with a total value of $10,066,000.00. Following the acquisition, the director now owns 73,150,000 shares of the company’s stock, valued at approximately $1,051,897,000. The disclosure for this purchase can be found here. In the last three months, insiders have bought 756,418 shares of company stock valued at $10,901,466.
Several institutional investors and hedge funds have recently made changes to their positions in VNOM. Envestnet Asset Management Inc. acquired a new position in shares of Viper Energy Partners during the first quarter valued at $121,000. PEAK6 Investments L.P. acquired a new position in shares of Viper Energy Partners during the first quarter valued at $196,000. Creative Planning boosted its holdings in shares of Viper Energy Partners by 1,215.5% during 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 during the period. Citadel Advisors LLC acquired a new position in shares of Viper Energy Partners during the first quarter valued at $235,000. Finally, Credit Suisse AG acquired a new position in shares of Viper Energy Partners during the first quarter valued at $270,000. 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.
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