Stifel Nicolaus Reiterates “Buy” Rating for Viper Energy Partners LP (VNOM)

Viper Energy Partners LP (NASDAQ:VNOM)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a research report issued on Sunday. They currently have a $20.00 target price on the oil and gas producer’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 16.96% from the company’s current price.

Several other research firms have also weighed in on VNOM. Northland Securities set a $24.00 price objective on Viper Energy Partners and gave the company a “buy” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Viper Energy Partners in a research note on Friday, May 26th. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Imperial Capital assumed coverage on Viper Energy Partners in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Barclays PLC lifted their price objective on Viper Energy Partners from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.58.

Shares of Viper Energy Partners (NASDAQ:VNOM) opened at 17.10 on Friday. Viper Energy Partners has a 52 week low of $13.53 and a 52 week high of $19.38. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 22.62 and a beta of 0.96. The firm’s 50-day moving average is $16.98 and its 200-day moving average is $17.10.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. On average, equities research analysts anticipate that Viper Energy Partners will post $0.91 EPS for the current fiscal year.

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

Hedge funds have recently bought and sold shares of the business. PEAK6 Investments L.P. purchased a new stake in Viper Energy Partners during the 1st quarter worth approximately $196,000. FMR LLC purchased a new stake in Viper Energy Partners during the 1st quarter worth approximately $20,725,000. Envestnet Asset Management Inc. purchased a new stake in Viper Energy Partners during the 1st quarter worth approximately $121,000. Ameriprise Financial Inc. increased its holdings in Viper Energy Partners by 83.9% during the 1st quarter. Ameriprise Financial Inc. now owns 96,116 shares of the oil and gas producer’s stock worth $1,728,000 after purchasing an additional 43,852 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Viper Energy Partners by 4.8% during the 1st quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock worth $6,855,000 after purchasing an additional 17,415 shares during the last quarter. Institutional investors own 15.69% 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.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

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