Cushing Asset Management LP bought a new stake in shares of Viper Energy Partners (NASDAQ:VNOM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,000 shares of the oil and gas producer’s stock, valued at approximately $373,000.
A number of other hedge funds have also made changes to their positions in VNOM. Raymond James Financial Services Advisors Inc. increased its holdings in Viper Energy Partners by 42.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,089 shares of the oil and gas producer’s stock valued at $524,000 after buying an additional 8,318 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Viper Energy Partners during the third quarter valued at approximately $514,000. Ameriprise Financial Inc. increased its holdings in Viper Energy Partners by 24.7% during the third quarter. Ameriprise Financial Inc. now owns 116,950 shares of the oil and gas producer’s stock valued at $2,180,000 after buying an additional 23,175 shares during the last quarter. Malaga Cove Capital LLC increased its holdings in Viper Energy Partners by 81.6% during the third quarter. Malaga Cove Capital LLC now owns 118,174 shares of the oil and gas producer’s stock valued at $2,199,000 after buying an additional 53,114 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Viper Energy Partners by 28.5% during the third 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 buying an additional 273,200 shares during the last quarter. 26.91% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on VNOM. Deutsche Bank began coverage on shares of Viper Energy Partners in a report on Thursday, February 1st. They set a “buy” rating and a $27.00 target price for the company. Credit Suisse Group began coverage on shares of Viper Energy Partners in a report on Monday, December 11th. They set an “outperform” rating and a $25.00 target price for the company. Northland Securities reaffirmed a “buy” rating and set a $29.00 target price on shares of Viper Energy Partners in a report on Thursday, February 8th. BidaskClub cut shares of Viper Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 10th. Finally, Imperial Capital set a $30.00 target price on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.15.
Shares of NASDAQ VNOM traded down $1.32 during midday trading on Friday, reaching $25.18. The stock had a trading volume of 1,015,051 shares, compared to its average volume of 421,258. The company has a debt-to-equity ratio of 0.10, a current ratio of 9.86 and a quick ratio of 9.86. The stock has a market cap of $3,017.87, a PE ratio of 23.53 and a beta of 0.90. Viper Energy Partners has a 12-month low of $14.76 and a 12-month high of $27.30.
Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.08. The firm had revenue of $59.20 million during the quarter, compared to analysts’ expectations of $51.28 million. Viper Energy Partners had a net margin of 64.80% and a return on equity of 13.92%. The company’s revenue for the quarter was up 112.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. research analysts expect that Viper Energy Partners will post 1.37 EPS for the current year.
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Viper Energy Partners Profile
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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