Ameriprise Financial Inc. boosted its stake in Viper Energy Partners LP (NASDAQ:VNOM) by 83.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 96,116 shares of the oil and gas producer’s stock after buying an additional 43,852 shares during the period. Ameriprise Financial Inc. owned 0.11% of Viper Energy Partners worth $1,728,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in VNOM. First Trust Advisors LP boosted its stake in Viper Energy Partners by 4.8% in the first quarter. First Trust Advisors LP now owns 381,250 shares of the oil and gas producer’s stock worth $6,855,000 after buying an additional 17,415 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in Viper Energy Partners during the first quarter worth about $559,000. A.R.T. Advisors LLC bought a new stake in Viper Energy Partners during the fourth quarter worth about $193,000. CI Global Investments Inc. boosted its stake in Viper Energy Partners by 22.4% in the first quarter. CI Global Investments Inc. now owns 1,825,495 shares of the oil and gas producer’s stock worth $32,822,000 after buying an additional 333,895 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Viper Energy Partners by 6,776.0% in the first quarter. Wells Fargo & Company MN now owns 585,077 shares of the oil and gas producer’s stock worth $10,520,000 after buying an additional 576,568 shares during the period. Hedge funds and other institutional investors own 17.35% of the company’s stock.
Viper Energy Partners LP (NASDAQ:VNOM) traded down 1.36% during midday trading on Tuesday, reaching $17.40. The company had a trading volume of 134,505 shares. The company has a market cap of $1.70 billion, a PE ratio of 23.02 and a beta of 0.96. Viper Energy Partners LP has a 52-week low of $13.53 and a 52-week high of $19.38. The company’s 50-day moving average is $16.14 and its 200 day moving average is $17.11.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Viper Energy Partners had a return on equity of 11.19% and a net margin of 58.60%. The firm had revenue of $36.62 million for the quarter, compared to analyst estimates of $35.79 million. On average, equities research analysts forecast that Viper Energy Partners LP will post $0.90 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.332 per share. This represents a $1.33 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date is Tuesday, August 15th. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.30. Viper Energy Partners’s dividend payout ratio (DPR) is 159.21%.
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A number of brokerages have recently commented on VNOM. Stifel Nicolaus set a $20.00 price target on Viper Energy Partners and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC lifted their target price on Viper Energy Partners from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday. Northland Securities set a $24.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Scotiabank raised Viper Energy Partners from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $20.55.
In other Viper Energy Partners news, Director Steven E. West purchased 14,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $17.83 per share, for a total transaction of $249,620.00. Following the purchase, the director now owns 14,000 shares in the company, valued at approximately $249,620. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Russell Pantermuehl acquired 18,487 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $272,683.25. Following the acquisition, the vice president now owns 48,487 shares in the company, valued at $715,183.25. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 772,163 shares of company stock worth $11,186,089.
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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