Fmr LLC Takes Position in Viper Energy Partners LP (VNOM)

Fmr LLC bought a new position in shares of Viper Energy Partners LP (NASDAQ:VNOM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,152,700 shares of the oil and gas producer’s stock, valued at approximately $20,725,000. Fmr LLC owned approximately 1.31% of Viper Energy Partners as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Viper Energy Partners by 39.6% in the first quarter. Wellington Management Group LLP now owns 5,968,490 shares of the oil and gas producer’s stock worth $107,313,000 after buying an additional 1,693,392 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in Viper Energy Partners during the first quarter worth $12,646,000. 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 worth $10,520,000 after buying an additional 576,568 shares during the period. 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 worth $36,037,000 after buying an additional 415,417 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Viper Energy Partners by 176.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 621,500 shares of the oil and gas producer’s stock worth $11,171,000 after buying an additional 396,500 shares during the period. Institutional investors own 20.50% of the company’s stock.

Viper Energy Partners LP (NASDAQ:VNOM) opened at 16.20 on Tuesday. Viper Energy Partners LP has a 52-week low of $13.53 and a 52-week high of $19.52. The stock has a market capitalization of $1.58 billion, a PE ratio of 42.52 and a beta of 0.93. The firm’s 50-day moving average is $16.80 and its 200 day moving average is $17.12.

Viper Energy Partners (NASDAQ:VNOM) last posted its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $33.65 million for the quarter, compared to analyst estimates of $29.06 million. Viper Energy Partners had a net margin of 33.56% and a return on equity of 9.84%. On average, equities analysts forecast that Viper Energy Partners LP will post $0.94 earnings per share for the current year.

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Several equities research analysts recently commented on VNOM shares. Zacks Investment Research cut Viper Energy Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 26th. TheStreet raised Viper Energy Partners from a “c” rating to a “b-” rating in a report on Monday, April 17th. Credit Suisse Group reissued an “outperform” rating and set a $22.00 target price on shares of Viper Energy Partners in a report on Friday, June 2nd. Scotiabank reissued a “hold” rating and set a $20.00 target price on shares of Viper Energy Partners in a report on Monday, March 27th. Finally, Citigroup Inc. started coverage on Viper Energy Partners in a report on Friday, March 31st. They set a “buy” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $19.91.

In other news, Director Michael L. Hollis bought 2,917 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $17.71 per share, for a total transaction of $51,660.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven E. West bought 14,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $17.83 per share, for a total transaction of $249,620.00. Following the completion of the acquisition, the director now owns 14,000 shares of the company’s stock, valued at approximately $249,620. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 19,634 shares of company stock worth $349,801.

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.

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

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