UBS Group AG lifted its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM – Free Report) by 53.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,350,352 shares of the oil and gas producer’s stock after buying an additional 469,095 shares during the period. UBS Group AG’s holdings in Viper Energy were worth $52,164,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in VNOM. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Viper Energy during the 3rd quarter valued at $31,000. Ameriflex Group Inc. acquired a new position in shares of Viper Energy during the third quarter worth $38,000. CoreCap Advisors LLC lifted its position in shares of Viper Energy by 503.3% during the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 906 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 568 shares in the last quarter. Finally, Bogart Wealth LLC acquired a new position in shares of Viper Energy during the third quarter worth $57,000. Institutional investors and hedge funds own 87.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on VNOM shares. Truist Financial started coverage on shares of Viper Energy in a research report on Tuesday, March 24th. They set a “buy” rating and a $54.00 target price on the stock. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Monday, April 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research report on Monday, April 20th. Citigroup boosted their target price on shares of Viper Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Finally, Piper Sandler boosted their target price on shares of Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Viper Energy has a consensus rating of “Buy” and a consensus price target of $55.53.
Viper Energy Stock Performance
Shares of VNOM opened at $49.97 on Wednesday. The business’s 50 day moving average is $46.31 and its two-hundred day moving average is $41.52. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of -156.15, a PEG ratio of 1.04 and a beta of 0.42. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21.
Viper Energy (NASDAQ:VNOM – Get Free Report) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.67% and a negative net margin of 2.77%.The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.82 million. During the same period in the prior year, the company posted $0.54 EPS. Viper Energy’s quarterly revenue was up 108.6% on a year-over-year basis. Analysts forecast that Viper Energy Inc. will post 2.39 EPS for the current fiscal year.
Viper Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, May 14th. Viper Energy’s dividend payout ratio is presently -660.87%.
About Viper Energy
Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.
The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.
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