Viper Energy Partners LP (NASDAQ:VNOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Viper Energy Partners LP is engaged in owning, acquiring and exploiting oil and natural gas properties primarily in North America. It focuses on developing mineral interests in the Permian Basin in West Texas. Viper Energy Partners LP is based in Midland, Texas. “

VNOM has been the subject of a number of other research reports. Simmons reaffirmed an “overweight” rating and set a $22.00 price target on shares of Viper Energy Partners in a research report on Monday, July 11th. Piper Jaffray Cos. assumed coverage on Viper Energy Partners in a research report on Monday, July 11th. They set an “overweight” rating and a $22.00 price target for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.33.

Analyst Recommendations for Viper Energy Partners (NASDAQ:VNOM)

Shares of Viper Energy Partners (NASDAQ:VNOM) opened at 16.58 on Wednesday. The stock’s market cap is $1.44 billion. Viper Energy Partners has a 52-week low of $12.69 and a 52-week high of $20.25. The company’s 50-day moving average price is $16.46 and its 200-day moving average price is $17.65.

In related news, VP Randall J. Holder acquired 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, for a total transaction of $82,200.00. Following the purchase, the vice president now owns 10,000 shares of the company’s stock, valued at approximately $164,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diamondback Energy, Inc. acquired 2,000,000 shares of Viper Energy Partners stock in a transaction on Monday, August 1st. The shares were bought at an average price of $15.60 per share, with a total value of $31,200,000.00. Following the purchase, the director now directly 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 institutional investors have recently added to or reduced their stakes in VNOM. Boston Partners raised 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 last quarter. Waddell & Reed Financial Inc. raised 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 last quarter. Wellington Management Group LLP raised its position in shares of 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 valued at $31,691,000 after buying an additional 37,264 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Viper Energy Partners by 13.5% in the first quarter. Geode Capital Management LLC now owns 33,086 shares of the company’s stock valued at $539,000 after buying an additional 3,944 shares in the last quarter. Institutional investors and hedge funds own 7.87% of the company’s stock.

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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