Cwm LLC Increases Holdings in Viper Energy Partners LP (NASDAQ:VNOM)

Cwm LLC grew its holdings in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 128.2% in the second quarter, HoldingsChannel reports. The fund owned 1,483 shares of the oil and gas producer’s stock after purchasing an additional 833 shares during the quarter. Cwm LLC’s holdings in Viper Energy Partners were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Barclays PLC bought a new stake in shares of Viper Energy Partners during the 1st quarter valued at $31,000. State of Wyoming bought a new position in Viper Energy Partners in the 4th quarter worth $57,000. Chilton Capital Management LLC bought a new position in Viper Energy Partners in the 1st quarter worth $56,000. Sunbelt Securities Inc. bought a new position in Viper Energy Partners in the 1st quarter worth $98,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Viper Energy Partners in the 2nd quarter worth $134,000. Institutional investors own 37.34% of the company’s stock.

Viper Energy Partners Stock Up 3.3 %

Shares of NASDAQ VNOM opened at $30.15 on Monday. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.28. Viper Energy Partners LP has a 12-month low of $24.48 and a 12-month high of $34.35. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 13.17 and a beta of 1.81. The firm’s 50-day moving average price is $28.51 and its 200-day moving average price is $27.41.

Viper Energy Partners (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 6th. The oil and gas producer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.64. Viper Energy Partners had a net margin of 19.94% and a return on equity of 7.44%. The company had revenue of $293.20 million for the quarter, compared to analyst estimates of $199.43 million. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities research analysts anticipate that Viper Energy Partners LP will post 2.12 EPS for the current fiscal year.

Viper Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 16th will be given a $0.57 dividend. This is a positive change from Viper Energy Partners’s previous quarterly dividend of $0.33. This represents a $2.28 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date is Wednesday, November 15th. Viper Energy Partners’s dividend payout ratio is 47.16%.

Analyst Ratings Changes

Several analysts have commented on VNOM shares. TD Securities boosted their price target on shares of Viper Energy Partners from $36.00 to $37.50 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Truist Financial boosted their price target on shares of Viper Energy Partners from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. StockNews.com upgraded shares of Viper Energy Partners from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Evercore ISI upped their target price on shares of Viper Energy Partners from $34.00 to $35.00 in a research report on Friday, July 21st. Finally, Raymond James upped their target price on shares of Viper Energy Partners from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, September 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $37.64.

About Viper Energy Partners