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UPDATE: Wunderlich Securities Initiates Coverage on Vanguard Natural Resources LLC on Diverse Portfolio

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In a report published Wednesday, Wunderlich Securities analyst Abhishek Sinha initiated coverage on Vanguard Natural Resources LLC (NASDAQ: VNR) with a Buy rating and $31.00 price target.

In the report, Wunderlich Securities noted, “We are initiating coverage on Vanguard Natural Resources, LLC (VNR) with a Buy rating and $31 price target. VNR is an oil & gas upstream MLP headquartered in Houston, TX. The company has a diverse portfolio of long-lived producing properties with 80% of its proved reserves coming from the Permian, Arkoma, and the Big Horn basins. Through a series of gassy but accretive acquisitions, VNR has radically shifted its portfolio from having ~60% oil contribution in its production stream in 2011 to 66% gas production now. The company is trading at 10% premium to its sector; however, we believe the bias for the units' price would remain skewed higher for VNR anchored on its strong balance sheet, adequate coverage ratio, and near-term acquisition potential.”

Vanguard Natural Resources LLC closed on Tuesday at $28.18.

Latest Ratings for VNR

DateFirmActionFromTo
Feb 2015CitigroupMaintainsNeutral
Feb 2015BarclaysDowngradesOverweightEqual-weight
Nov 2014UBSUpgradesNeutralBuy

View More Analyst Ratings for VNR
View the Latest Analyst Ratings

Posted-In: Abhishek Sinha Wunderlich SecuritiesAnalyst Color Initiation Analyst Ratings

 

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