AE Wealth Management LLC lessened its stake in shares of Viper Energy Partners LP (NASDAQ:VNOM – Get Rating) by 63.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,199 shares of the oil and gas producer’s stock after selling 77,748 shares during the quarter. AE Wealth Management LLC’s holdings in Viper Energy Partners were worth $1,267,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Eagle Global Advisors LLC increased its stake in shares of Viper Energy Partners by 22.1% during the third quarter. Eagle Global Advisors LLC now owns 42,747 shares of the oil and gas producer’s stock valued at $1,225,000 after acquiring an additional 7,747 shares during the period. Cross Staff Investments Inc acquired a new position in shares of Viper Energy Partners during the third quarter valued at approximately $170,000. Naples Global Advisors LLC acquired a new position in shares of Viper Energy Partners during the third quarter valued at approximately $217,000. Spirit of America Management Corp NY increased its stake in shares of Viper Energy Partners by 7.6% during the third quarter. Spirit of America Management Corp NY now owns 28,200 shares of the oil and gas producer’s stock valued at $809,000 after acquiring an additional 2,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Viper Energy Partners by 23.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 113,052 shares of the oil and gas producer’s stock valued at $3,240,000 after acquiring an additional 21,364 shares during the period. Institutional investors and hedge funds own 40.22% of the company’s stock.
Wall Street Analyst Weigh In
VNOM has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Viper Energy Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 19th. Raymond James reduced their target price on shares of Viper Energy Partners from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, October 24th. StockNews.com cut shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. TD Securities raised their target price on shares of Viper Energy Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Finally, KeyCorp reduced their target price on shares of Viper Energy Partners from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, December 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.56.
Viper Energy Partners Trading Up 0.5 %
Viper Energy Partners (NASDAQ:VNOM – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The oil and gas producer reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.58. The firm had revenue of $221.62 million during the quarter, compared to analyst estimates of $213.72 million. Viper Energy Partners had a net margin of 20.45% and a return on equity of 6.79%. Research analysts forecast that Viper Energy Partners LP will post 1.93 EPS for the current year.
Viper Energy Partners Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Thursday, November 17th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend was Wednesday, November 16th. Viper Energy Partners’s dividend payout ratio (DPR) is currently 45.05%.
Insider Buying and Selling at Viper Energy Partners
In other Viper Energy Partners news, major shareholder Holdings L.P. Blackstone III sold 4,200 shares of Viper Energy Partners stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $32.62, for a total transaction of $137,004.00. Following the completion of the sale, the insider now owns 695,446 shares of the company’s stock, valued at approximately $22,685,448.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 989,846 shares of company stock valued at $33,645,366 in the last quarter. Company insiders own 0.30% of the company’s stock.
Viper Energy Partners Profile
Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2021, it had mineral interests in 27,027 net royalty acres in the Permian Basin and Eagle Ford Shale; and estimated proved oil and natural gas reserves of 127,888 thousand barrels of crude oil equivalent.
- Get a free copy of the StockNews.com research report on Viper Energy Partners (VNOM)
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