Viper Energy Partners LP (NASDAQ:VNOM) had its price target reduced by Barclays PLC from $21.00 to $18.00 in a research note published on Tuesday. They currently have an overweight rating on the stock.
VNOM has been the subject of a number of other research reports. Piper Jaffray Cos. started coverage on Viper Energy Partners in a research note on Monday, July 11th. They issued an overweight rating and a $22.00 target price for the company. Mizuho initiated coverage on Viper Energy Partners in a research report on Wednesday, October 5th. They set a neutral rating and a $17.00 price objective for the company. Zacks Investment Research raised Viper Energy Partners from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Tuesday, July 19th. Finally, Simmons reaffirmed an overweight rating and set a $22.00 price objective on shares of Viper Energy Partners in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $19.57.
Viper Energy Partners (NASDAQ:VNOM) traded down 0.72% during trading on Tuesday, hitting $16.58. The company had a trading volume of 6,290 shares. The stock’s market capitalization is $1.44 billion. The company’s 50 day moving average price is $16.32 and its 200-day moving average price is $17.62. Viper Energy Partners has a 1-year low of $12.69 and a 1-year high of $20.25.
In other Viper Energy Partners news, VP Randall J. Holder bought 5,000 shares of Viper Energy Partners stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $16.44 per share, with a total value of $82,200.00. Following the acquisition, the vice president now owns 10,000 shares in the company, valued at $164,400. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Diamondback Energy, Inc. bought 2,000,000 shares of Viper Energy Partners stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $15.60 per share, with a total value of $31,200,000.00. Following the acquisition, the director now owns 72,450,000 shares in the company, valued at approximately $1,130,220,000. The disclosure for this purchase can be found here.
Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock worth $539,000 after buying an additional 3,944 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in 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 during the period. Boston Partners increased its position in 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 during the period. Finally, Wellington Management Group LLP increased its position in Viper Energy Partners by 2.0% in the first quarter. Wellington Management Group LLP now owns 1,943,064 shares of the company’s stock worth $31,691,000 after buying an additional 37,264 shares during the period. 7.87% of the stock is owned by institutional investors and hedge funds.
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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