Malaga Cove Capital LLC Cuts Holdings in Viper Energy Partners LP (VNOM)

Malaga Cove Capital LLC lowered its holdings in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 5.9% in the first quarter, Holdings Channel reports. The fund owned 112,427 shares of the oil and gas producer’s stock after selling 7,018 shares during the quarter. Viper Energy Partners comprises about 2.3% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 4th biggest holding. Malaga Cove Capital LLC’s holdings in Viper Energy Partners were worth $3,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Man Group plc purchased a new stake in shares of Viper Energy Partners during the third quarter worth about $583,000. CI Investments Inc. purchased a new stake in shares of Viper Energy Partners during the fourth quarter worth about $37,850,000. Dividend Assets Capital LLC grew its holdings in shares of Viper Energy Partners by 2.1% during the fourth quarter. Dividend Assets Capital LLC now owns 226,466 shares of the oil and gas producer’s stock worth $5,897,000 after buying an additional 4,652 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Viper Energy Partners by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 1,064,741 shares of the oil and gas producer’s stock worth $44,825,000 after buying an additional 167,826 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Viper Energy Partners by 32.9% during the third quarter. Morgan Stanley now owns 625,667 shares of the oil and gas producer’s stock worth $26,341,000 after buying an additional 154,798 shares in the last quarter. Institutional investors own 32.24% of the company’s stock.

VNOM traded down $0.18 during trading on Thursday, hitting $32.92. 7,708 shares of the company’s stock were exchanged, compared to its average volume of 357,660. The company has a quick ratio of 10.84, a current ratio of 10.84 and a debt-to-equity ratio of 0.33. Viper Energy Partners LP has a 1 year low of $22.76 and a 1 year high of $44.00. The company has a market cap of $4.04 billion, a P/E ratio of 30.56 and a beta of 1.31.

Viper Energy Partners (NASDAQ:VNOM) last released its quarterly earnings data on Tuesday, February 5th. The oil and gas producer reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). Viper Energy Partners had a return on equity of 6.74% and a net margin of 49.62%. The business had revenue of $73.67 million for the quarter, compared to analysts’ expectations of $81.53 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Research analysts anticipate that Viper Energy Partners LP will post 0.32 earnings per share for the current year.

In other Viper Energy Partners news, President Hof Matthew Kaes Van’t sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $33.51, for a total transaction of $77,073.00. Following the completion of the sale, the president now directly owns 44,624 shares in the company, valued at $1,495,350.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

VNOM has been the subject of a number of recent analyst reports. TD Securities boosted their target price 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. BidaskClub downgraded shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Viper Energy Partners from a “hold” rating to a “strong sell” rating in a report on Saturday, January 26th. Oppenheimer set a $49.00 target price on shares of Viper Energy Partners and gave the company a “buy” rating in a report on Friday, December 14th. Finally, ValuEngine upgraded shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.09.

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

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