Will Viper Energy Partners LP (VNOM) Benefit from an Upward Move in Energy Prices?
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, small-cap stocks performed well with varying results from the indexes. The Russell 2000 Growth Index was up 6.07% while the Russell 2000 Value Index was 0.67% down in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Viper Energy Partners LP (NASDAQ:VNOM) in the Q1 2023 investor letter. Based in Midland, Texas, Viper Energy Partners LP (NASDAQ:VNOM) acquire, owns, and exploits oil and natural gas properties. On June 23, 2023, Viper Energy Partners LP (NASDAQ:VNOM) stock closed at $25.00 per share. One-month return of Viper Energy Partners LP (NASDAQ:VNOM) was -5.23%, and its shares lost 6.09% of their value over the last 52 weeks. Viper Energy Partners LP (NASDAQ:VNOM) has a market capitalization of $4.068 billion.
Carillon Eagle Small Cap Growth Fund made the following comment about Viper Energy Partners LP (NASDAQ:VNOM) in its first quarter 2023 investor letter:
"Viper Energy Partners LP (NASDAQ:VNOM) owns and acquires mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin of western Texas and southeastern New Mexico. The stock underperformed as it largely tracked the broader downward move in crude oil and natural gas commodity prices. The Fund’s longer-term core investment thesis for Viper remains intact because its position allows the company to benefit from any potential upward move in crude oil prices while simultaneously avoiding the accelerating service costs being experienced by traditional exploration and production companies."
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Viper Energy Partners LP (NASDAQ:VNOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Viper Energy Partners LP (NASDAQ:VNOM) at the end of first quarter 2023 which was 13 in the previous quarter.
We discussed Viper Energy Partners LP (NASDAQ:VNOM) in another article and shared Carillon Eagle Small Cap Growth Fund 's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
