Viper Energy Partners LP (NASDAQ:VNOM) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totalling 2,687,900 shares, a growth of 61.0% from the February 27th total of 1,670,000 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily volume of 1,924,600 shares, the short-interest ratio is currently 1.4 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC bought a new position in Viper Energy Partners in the fourth quarter valued at approximately $314,000. Castleark Management LLC increased its stake in Viper Energy Partners by 39.5% in the third quarter. Castleark Management LLC now owns 80,613 shares of the oil and gas producer’s stock valued at $2,231,000 after acquiring an additional 22,820 shares during the last quarter. Raymond James Trust N.A. increased its stake in Viper Energy Partners by 48.4% in the fourth quarter. Raymond James Trust N.A. now owns 11,352 shares of the oil and gas producer’s stock valued at $280,000 after acquiring an additional 3,702 shares during the last quarter. Heartland Advisors Inc. increased its stake in Viper Energy Partners by 37.5% in the fourth quarter. Heartland Advisors Inc. now owns 275,000 shares of the oil and gas producer’s stock valued at $6,782,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Viper Energy Partners by 8,200.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,573 shares of the oil and gas producer’s stock valued at $71,000 after acquiring an additional 2,542 shares during the last quarter. Institutional investors own 36.84% of the company’s stock.
NASDAQ VNOM opened at $6.75 on Friday. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.27. Viper Energy Partners has a 1-year low of $4.98 and a 1-year high of $34.93. The company has a 50 day moving average of $16.00 and a 200-day moving average of $23.18. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 8.33 and a beta of 1.38.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Viper Energy Partners had a net margin of 15.52% and a return on equity of 0.67%. The business had revenue of $92.71 million during the quarter, compared to analyst estimates of $89.23 million. On average, equities research analysts forecast that Viper Energy Partners will post -0.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a $0.45 dividend. The ex-dividend date was Thursday, February 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 26.67%. Viper Energy Partners’s payout ratio is 1,384.62%.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Viper Energy Partners in a research report on Wednesday, January 8th. BidaskClub downgraded shares of Viper Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, February 28th. TD Securities cut their price objective on shares of Viper Energy Partners from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 20th. TheStreet downgraded shares of Viper Energy Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, February 11th. Finally, Raymond James downgraded shares of Viper Energy Partners from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $28.00 to $12.00 in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.13.
About Viper Energy Partners
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.
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