Citigroup Downgrades Viper Energy Partners (VNOM) to Neutral
Viper Energy Partners (NASDAQ:VNOM) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports.
Other equities analysts have also recently issued reports about the stock. Barclays set a $21.00 price target on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Thursday, October 26th. BidaskClub upgraded shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. UBS Group upgraded shares of Viper Energy Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $27.00 in a report on Tuesday, December 5th. Zacks Investment Research cut shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $29.00 price target on shares of Viper Energy Partners in a report on Wednesday, January 17th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Viper Energy Partners has a consensus rating of “Buy” and an average target price of $26.00.
Shares of Viper Energy Partners (VNOM) opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.86 and a current ratio of 9.86. Viper Energy Partners has a one year low of $14.76 and a one year high of $26.19. The stock has a market cap of $2,660.00, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.14 and a beta of 1.05.
Large investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. boosted its holdings in Viper Energy Partners by 940.0% in the fourth quarter. Thompson Davis & CO. Inc. now owns 5,200 shares of the oil and gas producer’s stock worth $121,000 after purchasing an additional 4,700 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Viper Energy Partners in the third quarter worth $106,000. Driehaus Capital Management LLC bought a new stake in Viper Energy Partners in the fourth quarter worth $205,000. Investment House LLC bought a new stake in Viper Energy Partners in the fourth quarter worth $223,000. Finally, Cushing Asset Management LP bought a new stake in Viper Energy Partners in the fourth quarter worth $373,000. Hedge funds and other institutional investors own 26.73% of the company’s stock.
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Viper Energy Partners Company Profile
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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