Viper Energy Partners LP (VNOM) was one of the best performers amongst all companies listed in the basic materials sector on the NYSE and NASDAQ exchanges during trading on September 22, climbing 3.13% to wrap the day at $16.79 after closing the day prior at $16.28. Throughout the trading session, shares of VNOM rose as high as $16.8 and dipped as low as $16.24. Today’s advance came with about 88,862 shares changing hands, compared to an average 30-day volume of 76,953 for Viper Energy Partners LP. The price is currently below the 30-day volume weighted average price of $16.71 for VNOM.
The share appreciation today gives the company a market capitalization of $1.41 billion based upon 86.74 million shares outstanding. It also means that VNOM has a price-to-book ratio of 3.29:1.
In the past 52 weeks, shares of VNOM have traded as low as $12.69 and as high as $20.25. Technical traders will take note that at $16.79, shares of VNOM are trading above their 200-day MA at $16.39 and above their 50-day MA at $16.71. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is VNOM?
Viper Energy Partners LP is engaged in the acquisition and exploitation of oil & natural gas properties in North America. Its properties include mineral interests underlying approximately 14,804 gross acres in Midland County, Texas in the Permian Basin. The company’s employees are led by CEO Travis D. Stice from the corporate headquarters at 500 West Texas in Midland, TX.
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