Viper Energy Partners LP (NASDAQ:VNOM) Sees Large Decline in Short Interest
Viper Energy Partners LP (NASDAQ:VNOM) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,256,300 shares, a decrease of 22.1% from the July 31st total of 1,612,000 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 336,500 shares, the short-interest ratio is currently 3.7 days.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. raised its stake in Viper Energy Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 11,844 shares of the oil and gas producer’s stock valued at $393,000 after purchasing an additional 566 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Viper Energy Partners by 13.3% in the 1st quarter. California Public Employees Retirement System now owns 76,424 shares of the oil and gas producer’s stock valued at $2,534,000 after buying an additional 8,973 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Viper Energy Partners by 13.7% in the 1st quarter. Stephens Inc. AR now owns 9,950 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 1,200 shares in the last quarter. Brasada Capital Management LP raised its stake in shares of Viper Energy Partners by 47.6% in the 1st quarter. Brasada Capital Management LP now owns 141,401 shares of the oil and gas producer’s stock valued at $4,688,000 after buying an additional 45,585 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Viper Energy Partners during the 1st quarter worth about $6,382,000. 38.78% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on VNOM. Capital One Financial started coverage on shares of Viper Energy Partners in a research report on Tuesday, July 2nd. They set an “overweight” rating and a $37.00 price objective on the stock. ValuEngine raised shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Stephens set a $46.00 target price on shares of Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, May 20th. SunTrust Banks initiated coverage on shares of Viper Energy Partners in a research note on Monday, June 17th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Stifel Nicolaus raised their price target on shares of Viper Energy Partners from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.06.
Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Viper Energy Partners had a return on equity of 0.62% and a net margin of 13.18%. The business had revenue of $72.19 million for the quarter, compared to analyst estimates of $69.49 million. During the same period in the prior year, the firm posted $1.35 EPS. Viper Energy Partners’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Viper Energy Partners will post 0.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were issued a $0.47 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.88 dividend on an annualized basis and a yield of 6.28%. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.38. Viper Energy Partners’s dividend payout ratio (DPR) is 174.07%.
Viper Energy Partners Company Profile
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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