Viper Energy Partners LP (NASDAQ:VNOM) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,285,669 shares, a growth of 53.2% from the January 12th total of 839,199 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily volume of 611,025 shares, the days-to-cover ratio is currently 2.1 days.
Several hedge funds have recently bought and sold shares of the stock. CI Global Investments Inc. increased its holdings in shares of Viper Energy Partners by 111.9% during the 3rd quarter. CI Global Investments Inc. now owns 4,098,552 shares of the oil and gas producer’s stock worth $76,397,000 after acquiring an additional 2,164,352 shares during the last quarter. Boston Partners increased its holdings in shares of Viper Energy Partners by 27.4% during the 3rd quarter. Boston Partners now owns 2,127,350 shares of the oil and gas producer’s stock worth $39,654,000 after acquiring an additional 457,308 shares during the last quarter. HITE Hedge Asset Management LLC boosted its stake in Viper Energy Partners by 320.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,996,005 shares of the oil and gas producer’s stock valued at $37,206,000 after purchasing an additional 1,521,773 shares during the period. FMR LLC boosted its stake in Viper Energy Partners by 26.2% in the 2nd quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock valued at $22,845,000 after purchasing an additional 302,400 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Viper Energy Partners by 28.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,233,200 shares of the oil and gas producer’s stock valued at $22,984,000 after purchasing an additional 273,200 shares during the period. 26.95% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on VNOM shares. Barclays set a $20.00 price target on Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, October 16th. Citigroup boosted their price target on Viper Energy Partners from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Northland Securities set a $24.00 price target on Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research lowered Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, SunTrust Banks started coverage on Viper Energy Partners in a research report on Wednesday, November 29th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $25.64.
Viper Energy Partners (NASDAQ:VNOM) last posted its earnings results on Tuesday, February 6th. The oil and gas producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $51.28 million. Viper Energy Partners had a return on equity of 13.92% and a net margin of 64.80%. The firm’s revenue was up 112.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. analysts anticipate that Viper Energy Partners will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 19th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, February 15th. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.34. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.08%. Viper Energy Partners’s payout ratio is presently 127.36%.
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About Viper Energy Partners
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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