Viper Energy, Inc. (NASDAQ:VNOM) Stake Increased by Naples Global Advisors LLC

Naples Global Advisors LLC increased its stake in Viper Energy, Inc. (NASDAQ:VNOM) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,655 shares of the oil and gas producer’s stock after buying an additional 465 shares during the period. Naples Global Advisors LLC’s holdings in Viper Energy were worth $346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of Viper Energy in the fourth quarter worth $25,000. Quarry LP bought a new stake in shares of Viper Energy in the fourth quarter worth $32,000. Assetmark Inc. increased its stake in shares of 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 buying an additional 518 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Viper Energy by 43.9% in the fourth quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 214 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Viper Energy in the fourth quarter worth $55,000. Institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Securities lifted their price target on shares of Viper Energy from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America dropped their price target on shares of Viper Energy from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Piper Sandler dropped their price target on shares of Viper Energy from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. The Goldman Sachs Group set a $72.00 target price on shares of Viper Energy in a research note on Monday, March 3rd. Finally, Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.85.

Viper Energy Stock Up 2.8%

VNOM stock opened at $41.33 on Friday. 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, Inc. has a 1-year low of $34.71 and a 1-year high of $56.76. The firm has a fifty day moving average price of $40.32 and a two-hundred day moving average price of $45.70. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 17.74 and a beta of 1.00.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Research analysts predict that Viper Energy, Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy’s dividend payout ratio (DPR) is 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.