Meridian Wealth Advisors LLC boosted its holdings in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 167.6% in the 1st quarter, Holdings Channel reports. The firm owned 28,100 shares of the oil and gas producer’s stock after buying an additional 17,600 shares during the period. Meridian Wealth Advisors LLC’s holdings in Viper Energy Partners were worth $932,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in Viper Energy Partners during the first quarter valued at approximately $50,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Viper Energy Partners during the first quarter valued at approximately $60,000. PNC Financial Services Group Inc. acquired a new stake in shares of Viper Energy Partners during the fourth quarter valued at approximately $76,000. Caz Investments LP acquired a new stake in shares of Viper Energy Partners during the fourth quarter valued at approximately $104,000. Finally, Baldwin Brothers Inc. MA acquired a new stake in shares of Viper Energy Partners during the first quarter valued at approximately $157,000. 33.31% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Viper Energy Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, January 26th. BidaskClub lowered shares of Viper Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Barclays assumed coverage on shares of Viper Energy Partners in a report on Monday. They set an “overweight” rating and a $44.00 price target on the stock. ValuEngine lowered shares of Viper Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, TD Securities boosted their price target on shares of Viper Energy Partners from $44.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Viper Energy Partners presently has an average rating of “Buy” and an average price target of $42.21.
Viper Energy Partners stock traded down $0.23 during trading hours on Friday, hitting $31.28. The company had a trading volume of 60,956 shares, compared to its average volume of 402,841. The firm has a market cap of $4.24 billion, a PE ratio of 28.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 20.09 and a current ratio of 20.09. Viper Energy Partners LP has a fifty-two week low of $22.76 and a fifty-two week high of $44.00.
Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.05). The company had revenue of $61.59 million during the quarter, compared to analyst estimates of $68.04 million. Viper Energy Partners had a net margin of 46.62% and a return on equity of 2.33%. During the same quarter in the prior year, the company posted $0.38 EPS. Equities analysts anticipate that Viper Energy Partners LP will post 1.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.52 annualized dividend and a yield of 4.86%. Viper Energy Partners’s dividend payout ratio is presently 140.74%.
In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $31.65, for a total value of $79,125.00. Following the transaction, the president now owns 42,124 shares in the company, valued at approximately $1,333,224.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.
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About Viper Energy Partners
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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