Fmr LLC raised its holdings in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,068,984 shares of the oil and gas producer’s stock after buying an additional 217,580 shares during the period. Fmr LLC owned about 2.48% of Viper Energy Partners worth $97,932,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Verition Fund Management LLC increased its stake in Viper Energy Partners by 76.9% during the second quarter. Verition Fund Management LLC now owns 115,000 shares of the oil and gas producer’s stock valued at $3,670,000 after purchasing an additional 50,000 shares during the last quarter. California Public Employees Retirement System increased its stake in Viper Energy Partners by 155.5% during the second quarter. California Public Employees Retirement System now owns 45,092 shares of the oil and gas producer’s stock valued at $1,439,000 after purchasing an additional 27,445 shares during the last quarter. Millennium Management LLC increased its stake in Viper Energy Partners by 2,165.2% during the second quarter. Millennium Management LLC now owns 491,569 shares of the oil and gas producer’s stock valued at $15,686,000 after purchasing an additional 469,868 shares during the last quarter. Bank of America Corp DE increased its stake in Viper Energy Partners by 15.6% during the second quarter. Bank of America Corp DE now owns 115,405 shares of the oil and gas producer’s stock valued at $3,682,000 after purchasing an additional 15,574 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in shares of Viper Energy Partners during the second quarter valued at $312,000. 24.87% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on VNOM shares. Zacks Investment Research downgraded shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, August 24th. BidaskClub raised shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 20th. Stifel Nicolaus raised shares of Viper Energy Partners from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $42.00 in a report on Thursday, August 16th. Piper Jaffray Companies started coverage on shares of Viper Energy Partners in a report on Friday, September 28th. They set an “overweight” rating for the company. Finally, Citigroup raised shares of Viper Energy Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $42.00 in a report on Monday, August 20th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Viper Energy Partners currently has an average rating of “Buy” and an average price target of $40.29.
In related news, Director Michael L. Hollis acquired 3,000 shares of Viper Energy Partners stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average price of $33.68 per share, with a total value of $101,040.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Hof Matthew Kaes Van’t sold 14,800 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $38.71, for a total transaction of $572,908.00. Following the completion of the sale, the president now directly owns 72,473 shares of the company’s stock, valued at approximately $2,805,429.83. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
Shares of VNOM opened at $31.79 on Friday. The firm has a market cap of $4.21 billion, a PE ratio of 29.71 and a beta of 1.15. Viper Energy Partners LP has a 1 year low of $18.36 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 13.32 and a quick ratio of 13.32.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, October 29th. The oil and gas producer reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.36). The company had revenue of $78.60 million during the quarter, compared to analyst estimates of $78.65 million. Viper Energy Partners had a return on equity of 10.95% and a net margin of 67.73%. The business’s revenue for the quarter was up 84.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. On average, analysts anticipate that Viper Energy Partners LP will post 1.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 12th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend is Thursday, November 8th. Viper Energy Partners’s payout ratio is currently 224.30%.
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About Viper Energy Partners
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. The company holds mineral interests covering an area of approximately 43,843 net acres in the Permian Basin, West Texas. As of December 31, 2017, its estimated proved oil and natural gas reserves consisted of 38,246 thousand barrels of crude oil equivalent.
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