Merewether Investment Management LP Purchases 14,761 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Merewether Investment Management LP increased its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 875,361 shares of the oil and gas producer’s stock after buying an additional 14,761 shares during the quarter. Viper Energy accounts for about 1.7% of Merewether Investment Management LP’s investment portfolio, making the stock its 25th largest position. Merewether Investment Management LP owned approximately 0.41% of Viper Energy worth $42,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Viper Energy during the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in Viper Energy in the 4th quarter worth about $32,000. Assetmark Inc. lifted its stake in Viper Energy by 321.7% in the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 518 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Viper Energy by 43.9% during the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 214 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Viper Energy during the fourth quarter valued at approximately $55,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VNOM. Evercore ISI reiterated an “outperform” rating and issued a $49.00 target price on shares of Viper Energy in a research note on Wednesday, May 7th. KeyCorp reduced their price target on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Truist Financial decreased their price objective on shares of Viper Energy from $78.00 to $68.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Viper Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.31.

Viper Energy Stock Performance

NASDAQ VNOM opened at $42.19 on Tuesday. The business has a 50 day moving average price of $41.42 and a 200 day moving average price of $47.19. The company has a market capitalization of $8.99 billion, a P/E ratio of 18.11 and a beta of 1.05. Viper Energy, Inc. has a 1-year low of $34.71 and a 1-year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The firm had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $233.99 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. During the same quarter in the prior year, the firm earned $0.49 EPS. Sell-side analysts expect that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.84%. Viper Energy’s dividend payout ratio is currently 31.58%.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.