HITE Hedge Asset Management LLC reduced its stake in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 32.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 474,232 shares of the oil and gas producer’s stock after selling 229,124 shares during the period. Viper Energy Partners accounts for 2.5% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 16th largest position. HITE Hedge Asset Management LLC owned approximately 0.49% of Viper Energy Partners worth $7,445,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VNOM. Malaga Cove Capital LLC purchased a new stake in Viper Energy Partners during the first quarter valued at approximately $559,000. Wells Fargo & Company MN boosted its stake in 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 valued at $10,520,000 after buying an additional 576,568 shares during the period. ING Groep NV purchased a new stake in Viper Energy Partners during the first quarter valued at approximately $4,497,000. 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 valued at $6,855,000 after buying an additional 17,415 shares during the period. Finally, Boston Partners boosted its stake in Viper Energy Partners by 26.1% in the first quarter. Boston Partners now owns 2,004,294 shares of the oil and gas producer’s stock valued at $36,037,000 after buying an additional 415,417 shares during the period. 16.81% of the stock is owned by institutional investors.

Shares of Viper Energy Partners LP (NASDAQ:VNOM) traded up 0.2874% during midday trading on Friday, hitting $16.9586. The company had a trading volume of 8,907 shares. Viper Energy Partners LP has a one year low of $13.53 and a one year high of $19.38. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 22.4320 and a beta of 0.96. The stock’s 50-day moving average price is $16.62 and its 200-day moving average price is $17.17.

Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Viper Energy Partners had a net margin of 58.60% and a return on equity of 11.19%. The company had revenue of $36.62 million for the quarter, compared to analysts’ expectations of $35.79 million. Analysts predict that Viper Energy Partners LP will post $0.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 17th were given a dividend of $0.332 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.33 annualized dividend and a dividend yield of 7.85%. This is a boost from Viper Energy Partners’s previous quarterly dividend of $0.30. Viper Energy Partners’s payout ratio is currently 175.00%.

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Several equities research analysts have recently commented on VNOM shares. Zacks Investment Research raised Viper Energy Partners from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Piper Jaffray Companies reissued an “overweight” rating and issued a $22.00 target price on shares of Viper Energy Partners in a research note on Friday, May 26th. Credit Suisse Group reissued an “outperform” rating and issued a $22.00 target price on shares of Viper Energy Partners in a research note on Friday, June 2nd. BidaskClub cut Viper Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price on shares of Viper Energy Partners in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.58.

In related news, Director Diamondback Energy, Inc. purchased 700,000 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $14.38 per share, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now directly owns 73,150,000 shares of the company’s stock, valued at $1,051,897,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Travis D. Stice purchased 30,811 shares of Viper Energy Partners stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $14.75 per share, for a total transaction of $454,462.25. The disclosure for this purchase can be found here. Insiders have purchased 756,418 shares of company stock worth $10,901,466 in the last quarter.

Viper Energy Partners Company Profile

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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Institutional Ownership by Quarter for Viper Energy Partners (NASDAQ:VNOM)

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