Viper Energy Partners LP (VNOM) Position Increased by Malaga Cove Capital LLC
Malaga Cove Capital LLC boosted its holdings in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 81.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,174 shares of the oil and gas producer’s stock after purchasing an additional 53,114 shares during the quarter. Viper Energy Partners comprises 1.3% of Malaga Cove Capital LLC’s portfolio, making the stock its 24th biggest holding. Malaga Cove Capital LLC owned 0.10% of Viper Energy Partners worth $2,199,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of VNOM. Geode Capital Management LLC raised its stake in Viper Energy Partners by 33.3% during the 1st quarter. Geode Capital Management LLC now owns 55,295 shares of the oil and gas producer’s stock valued at $994,000 after purchasing an additional 13,809 shares during the period. Renaissance Technologies LLC bought a new stake in Viper Energy Partners during the 1st quarter valued at approximately $281,000. Credit Suisse AG bought a new stake in Viper Energy Partners in the 1st quarter worth approximately $270,000. Creative Planning increased its stake in Viper Energy Partners by 1,215.5% in the 2nd quarter. Creative Planning now owns 13,155 shares of the oil and gas producer’s stock worth $207,000 after acquiring an additional 12,155 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in Viper Energy Partners by 54.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 960,000 shares of the oil and gas producer’s stock worth $15,069,000 after acquiring an additional 338,500 shares during the last quarter. 22.81% of the stock is currently owned by institutional investors.
Viper Energy Partners LP (NASDAQ:VNOM) traded up $0.45 during midday trading on Monday, hitting $19.41. The stock had a trading volume of 130,400 shares, compared to its average volume of 233,466. The company has a market cap of $2,210.00, a P/E ratio of 22.06, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 8.92, a quick ratio of 8.92 and a debt-to-equity ratio of 0.04. Viper Energy Partners LP has a 52-week low of $14.76 and a 52-week high of $20.81.
Viper Energy Partners (NASDAQ:VNOM) last released its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The firm had revenue of $42.21 million for the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The company’s revenue for the quarter was up 111.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. research analysts expect that Viper Energy Partners LP will post 0.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were given a dividend of $0.337 per share. The ex-dividend date was Monday, November 6th. This represents a $1.35 annualized dividend and a dividend yield of 6.94%. This is an increase from Viper Energy Partners’s previous quarterly dividend of $0.33. Viper Energy Partners’s payout ratio is currently 155.17%.
VNOM has been the topic of a number of research reports. TheStreet raised Viper Energy Partners from a “c+” rating to a “b-” rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Viper Energy Partners in a research note on Sunday, September 10th. Northland Securities reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Viper Energy Partners in a research note on Tuesday, September 5th. Mizuho raised Viper Energy Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Barclays PLC set a $20.00 price objective on Viper Energy Partners and gave the stock a “buy” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Viper Energy Partners presently has an average rating of “Buy” and an average price target of $21.45.
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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