Why Viper Energy's Stock is Trading Higher Today

Viper Energy Partners (NASDAQ:VNOM) shares are trading higher on Friday, after KeyBanc analysts maintained an Overweight rating on the stock and raised its price target from $10 to $13.

Viper Energy Partners was formed by Diamondback Energy in 2014 to own mineral royalty interests in the Permian Basin. At the end of 2019, Viper owns 24,304 net royalty acres that produced 26,137 boe/d. Proven reserves are mostly oil, and at the end of 2019 stand at 88,946 mboe.

Viper Energy Partners shares were trading up 3.04% at $11.53 on Friday. The stock has a 52-week high of $33.10 and a 52-week low of $4.98.