Cardinal Capital Management LLC CT lifted its holdings in Viper Energy Partners LP (NASDAQ:VNOM) by 1.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,390,834 shares of the oil and gas producer’s stock after buying an additional 14,414 shares during the quarter. Cardinal Capital Management LLC CT owned about 1.03% of Viper Energy Partners worth $42,866,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in VNOM. Arlington Partners LLC bought a new stake in Viper Energy Partners during the 2nd quarter worth about $46,000. San Francisco Sentry Investment Group CA raised its holdings in Viper Energy Partners by 15.4% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,375 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 450 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Viper Energy Partners during the 1st quarter worth about $138,000. Keybank National Association OH bought a new stake in Viper Energy Partners during the 2nd quarter worth about $210,000. Finally, Envestnet Asset Management Inc. raised its holdings in Viper Energy Partners by 6.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 545 shares during the last quarter. 38.78% of the stock is owned by institutional investors and hedge funds.
Shares of VNOM opened at $29.16 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.70 and a current ratio of 17.70. The stock has a 50 day simple moving average of $29.40 and a 200 day simple moving average of $30.97. Viper Energy Partners LP has a 52-week low of $22.76 and a 52-week high of $44.00. The firm has a market capitalization of $4.00 billion, a PE ratio of 27.00 and a beta of 1.38.
Viper Energy Partners (NASDAQ:VNOM) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). Viper Energy Partners had a net margin of 13.18% and a return on equity of 0.62%. The business had revenue of $72.19 million during the quarter, compared to analyst estimates of $69.49 million. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Viper Energy Partners’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Viper Energy Partners LP will post 0.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.38. This represents a $1.88 annualized dividend and a dividend yield of 6.45%. Viper Energy Partners’s payout ratio is currently 174.07%.
Several equities analysts have recently issued reports on the company. Evercore ISI assumed coverage on Viper Energy Partners in a research report on Tuesday, July 30th. They set an “outperform” rating and a $38.00 target price for the company. Raymond James boosted their target price on Viper Energy Partners from $50.00 to $52.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Viper Energy Partners from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. ValuEngine upgraded Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Stephens set a $46.00 target price on Viper Energy Partners and gave the stock a “buy” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $41.06.
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.
Further Reading: Mutual Funds
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