Wunderlich Securities Sees Additional Acreage In The Permian For Viper Energy Partners LP
In a report published Friday, Wunderlich Securities analyst Abhishek Sinha reiterated a Buy rating and $41.00 price target on Viper Energy Partners LP (NASDAQ: VNOM).
In the report, Wunderlich Securities noted, “VNOM declared yesterday in its S-1 filing that it has acquired additional interest in 3,447 net acres in the Midland and Delaware Basins for $90mm in cash. Although the company believes it to be an accretive acquisition we do not have any further details on the acquired property. The company was not in a position to furnish additional details until the SEC review process is over. However, we tend to believe that the acquisition should be incrementally positive for the company given its royalty structure having no production costs to bear.”
Viper Energy Partners LP closed on Thursday at $31.78.
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