Short Interest in Viper Energy Partners LP (VNOM) Drops By 38.3%

Viper Energy Partners LP (NASDAQ:VNOM) was the target of a large drop in short interest during the month of December. As of December 29th, there was short interest totalling 621,627 shares, a drop of 38.3% from the December 15th total of 1,008,040 shares. Based on an average daily volume of 294,187 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the shares of the company are short sold.

Shares of Viper Energy Partners (NASDAQ:VNOM) opened at $24.78 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.92 and a current ratio of 8.92. The firm has a market capitalization of $2,820.00, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06. Viper Energy Partners has a 12 month low of $14.76 and a 12 month high of $25.34.

Viper Energy Partners (NASDAQ:VNOM) last announced its earnings results on Tuesday, October 24th. The oil and gas producer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $42.21 million for the quarter, compared to the consensus estimate of $40.88 million. Viper Energy Partners had a return on equity of 12.08% and a net margin of 60.87%. The firm’s revenue for the quarter was up 111.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. equities research analysts expect that Viper Energy Partners will post 0.96 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in VNOM. GSA Capital Partners LLP bought a new stake in Viper Energy Partners during the 2nd quarter valued at $1,664,000. FMR LLC raised its stake in Viper Energy Partners by 26.2% during the 2nd quarter. FMR LLC now owns 1,455,100 shares of the oil and gas producer’s stock valued at $22,845,000 after acquiring an additional 302,400 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in Viper Energy Partners by 77.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 19,160 shares of the oil and gas producer’s stock valued at $301,000 after acquiring an additional 8,357 shares in the last quarter. Williams Jones & Associates LLC raised its stake in Viper Energy Partners by 74.3% during the 2nd quarter. Williams Jones & Associates LLC now owns 236,075 shares of the oil and gas producer’s stock valued at $3,706,000 after acquiring an additional 100,600 shares in the last quarter. Finally, Scholtz & Company LLC raised its stake in Viper Energy Partners by 0.9% during the 2nd quarter. Scholtz & Company LLC now owns 69,345 shares of the oil and gas producer’s stock valued at $1,089,000 after acquiring an additional 625 shares in the last quarter. 27.25% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Mizuho set a $29.00 price target on Viper Energy Partners and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $29.00 price target on shares of Viper Energy Partners in a report on Wednesday. Zacks Investment Research downgraded Viper Energy Partners from a “strong-buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Saturday, January 13th. BidaskClub raised Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. Finally, Imperial Capital set a $27.00 price target on Viper Energy Partners and gave the stock a “buy” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Viper Energy Partners currently has an average rating of “Buy” and a consensus target price of $24.58.

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Viper Energy Partners Company Profile

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.

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