Point Nemo Capital LLC acquired a new position in shares of Viper Energy Inc. (NASDAQ:VNOM – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,439 shares of the oil and gas producer’s stock, valued at approximately $1,294,000.
Several other institutional investors have also recently added to or reduced their stakes in VNOM. Bank of New York Mellon Corp raised its position in Viper Energy by 13.5% in the first quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock valued at $57,485,000 after purchasing an additional 145,221 shares during the period. Recurrent Investment Advisors LLC lifted its stake in Viper Energy by 36.9% during the first quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock worth $46,488,000 after purchasing an additional 266,703 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Viper Energy during the first quarter worth $37,464,000. Bank of America Corp DE boosted its position in shares of Viper Energy by 24.0% during the first quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock worth $37,373,000 after buying an additional 154,032 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Viper Energy by 56.3% during the first quarter. Pacer Advisors Inc. now owns 615,920 shares of the oil and gas producer’s stock worth $28,942,000 after buying an additional 221,853 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on VNOM. Raymond James Financial set a $57.00 price objective on Viper Energy in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research note on Thursday, October 15th. TD Cowen restated a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Zacks Research raised Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Wall Street Zen downgraded Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.41.
View Our Latest Analysis on Viper Energy
Viper Energy Price Performance
Shares of VNOM opened at $40.62 on Friday. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The firm’s 50 day moving average price is $43.60 and its 200 day moving average price is $44.41. The company has a market cap of $14.59 billion, a P/E ratio of 29.65 and a beta of 0.49. The company has a quick ratio of 6.37, a current ratio of 5.92 and a debt-to-equity ratio of 0.23.
Viper Energy (NASDAQ:VNOM – Get Free Report) last released its earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Viper Energy had a net margin of 12.08% and a return on equity of 4.24%. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $625.18 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 58.1% on a year-over-year basis. On average, research analysts forecast that Viper Energy Inc. will post 2.92 earnings per share for the current fiscal year.
Viper Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.9%. Viper Energy’s dividend payout ratio is currently 110.95%.
Viper Energy Profile
Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties. Rather than serving primarily as a drilling operator, the company earns revenue from production on acreage where other companies conduct exploration and development.
Its interests are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s business is tied to activity by the operators that develop the underlying properties.
Originally formed as Viper Energy Partners LP in 2014 as an affiliate of Diamondback Energy, the company later converted to a corporation and adopted the Viper Energy, Inc name.
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