The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Viper Energy Partners LP shares valued at $66,094 were sold by Blackstone Holdings III L.P. on Jan 27. At $33.05 per share, Blackstone Holdings III L.P. sold 2,000 shares. The insider’s holdings dropped to 9,842,228 shares worth approximately $291.63 million following the completion of this transaction.
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Also, BX SWT ML Holdco LLC sold 2,000 shares, netting a total of over 66,094 in proceeds. Following the sale of shares at $33.05 each, the insider now holds 9,842,228 shares.
Before that, BX SWT ML Holdco LLC had sold 205,500 shares from its account. In a trade valued at $6,781,952, the 10% Owner traded Viper Energy Partners LP shares for $33.00 each. Upon closing the transaction, the insider’s holdings decreased to 205,500 shares, worth approximately $291.68 million.
As published in their initiating research note from KeyBanc Capital Markets on September 20, 2022, Viper Energy Partners LP [VNOM] has been an Overweight and the price target has been revised to $39. This represents a 24.03% premium over Thursday’s closing price. Earlier on April 08, 2021, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for VNOM stock which previously was a “a Neutral”.
Analyzing VNOM Stock Performance
On Thursday, Viper Energy Partners LP [NASDAQ: VNOM] rose 1.06% to $29.63. The stock’s lowest price that day was $28.93, but it reached a high of $30.05 in the same session. During the last five days, there has been a drop of approximately -6.29%. Over the course of the year, Viper Energy Partners LP shares have dropped approximately -6.79%. Shares of the company reached a 52-week high of $33.78 on 01/12/23 and a 52-week low of $28.27 on 01/04/23. A 50-day SMA is recorded $31.29, while a 200-day SMA reached $30.74. Nevertheless, trading volume fell to 0.52 million shares from 0.49 million shares the previous day.
Support And Resistance Levels for Viper Energy Partners LP (VNOM)
According to the 24-hour chart, there is a support level at 29.02, which, if violated, would cause prices to drop to 28.42. In the upper region, resistance lies at 30.14. The next price resistance is at 30.66. RSI (Relative Strength Index) is 40.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.22, which suggests the price will decrease in the coming days. Percent R is at 80.23%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Viper Energy Partners LP subject to short interest?
Stocks of Viper Energy Partners LP saw a sharp rise in short interest on Jan 12, 2023 jumping by 70000.0 shares to 1.33 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 1.26 million shares. A jump of 5.26% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.61.
Which companies own the most shares of Viper Energy Partners LP (VNOM)?
According to Wellington Management Co. LLP filings, the company currently owns 11,024,380 shares, which is about 14.66% of the total VNOM shares outstanding. The investor’s shares have appreciated by 1,036,641 from its previous 13-F filing of 9987739.0 shares. With the completion of the sale transaction, Eagle Asset Management, Inc.’s stake is now worth $82,809,144. Horizon Kinetics Asset Management reduced a -2.20% interest valued at $68.3 million while Fred Alger Management LLC sold a -292,807 stake. A total of 234,900 shares of Viper Energy Partners LP were sold by Fidelity Management & Research Co during the quarter, and 131,009 were bought by Boston Partners Global Investors,. In its current portfolio, Massachusetts Financial Services holds 1,635,250 shares valued at $51.92 million.
In terms of Viper Energy Partners LP share price expectations, FactSet research, analysts set an average price target of $37.29 in the next 12 months, up nearly 26.19% from the previous closing price of $29.32. Analysts anticipate Viper Energy Partners LP stock to reach $41.00 by 2023, with the lowest price target being $34.00. In spite of this, 14 analysts ranked Viper Energy Partners LP stock as a Buy at the end of 2023. On December 04, 2020, Truist assigned a price target of “a Buy” to the stock and upgraded coverage with a $16.