Shares of Viper Energy Partners LP (NASDAQ:VNOM) have been assigned an average recommendation of “Buy” from the nineteen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.53.
VNOM has been the subject of a number of analyst reports. SunTrust Banks lowered their price target on shares of Malibu Boats to $48.00 and set a “buy” rating for the company in a report on Monday, June 17th. Stephens set a $131.00 price target on shares of American Express and gave the company a “buy” rating in a report on Monday, May 20th. Northland Securities reaffirmed a “sell” rating and issued a $34.00 price target on shares of Inphi in a report on Wednesday, May 1st. Barclays downgraded shares of Buckeye Partners from an “overweight” rating to an “equal weight” rating in a report on Monday, May 13th. Finally, BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th.
Shares of NASDAQ:VNOM traded down $0.24 during trading on Tuesday, reaching $30.87. The company’s stock had a trading volume of 309,428 shares, compared to its average volume of 302,559. The company has a quick ratio of 20.09, a current ratio of 20.09 and a debt-to-equity ratio of 0.10. Viper Energy Partners has a 12 month low of $22.76 and a 12 month high of $44.00. The company’s 50 day moving average price is $29.10. The stock has a market cap of $4.17 billion, a PE ratio of 28.58 and a beta of 1.38.
In related news, President Hof Matthew Kaes Van’t sold 2,500 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $31.65, for a total value of $79,125.00. Following the sale, the president now directly owns 42,124 shares of the company’s stock, valued at approximately $1,333,224.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.
Several large investors have recently modified their holdings of VNOM. CI Investments Inc. purchased a new position in shares of Viper Energy Partners during the fourth quarter worth approximately $37,850,000. Eagle Asset Management Inc. increased its position in shares of Viper Energy Partners by 81.1% during the first quarter. Eagle Asset Management Inc. now owns 2,605,921 shares of the oil and gas producer’s stock worth $86,412,000 after acquiring an additional 1,167,173 shares during the period. Carillon Tower Advisers Inc. increased its position in shares of Viper Energy Partners by 101.4% during the first quarter. Carillon Tower Advisers Inc. now owns 1,913,390 shares of the oil and gas producer’s stock worth $63,448,000 after acquiring an additional 963,271 shares during the period. FMR LLC increased its position in shares of Viper Energy Partners by 14.7% during the first quarter. FMR LLC now owns 4,117,055 shares of the oil and gas producer’s stock worth $136,522,000 after acquiring an additional 528,497 shares during the period. Finally, HITE Hedge Asset Management LLC increased its position in shares of Viper Energy Partners by 28.4% during the first quarter. HITE Hedge Asset Management LLC now owns 2,227,512 shares of the oil and gas producer’s stock worth $73,864,000 after acquiring an additional 492,217 shares during the period. 38.91% of the stock is currently owned by institutional investors and hedge funds.
About Viper Energy Partners
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.
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