QV Investors Inc. Invests $879,000 in Viper Energy Inc. $VNOM

QV Investors Inc. purchased a new position in Viper Energy Inc. (NASDAQ:VNOM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,005 shares of the oil and gas producer’s stock, valued at approximately $879,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. boosted its position in Viper Energy by 4.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock valued at $260,000 after buying an additional 279 shares during the period. GAMMA Investing LLC raised its stake in shares of Viper Energy by 16.7% during the third quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 337 shares in the last quarter. Assetmark Inc. increased its holdings in Viper Energy by 48.7% during the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after purchasing an additional 350 shares during the period. Parkside Financial Bank & Trust increased its holdings in Viper Energy by 9.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,117 shares of the oil and gas producer’s stock worth $157,000 after purchasing an additional 364 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Viper Energy by 4.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,902 shares of the oil and gas producer’s stock valued at $339,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

VNOM stock opened at $39.28 on Friday. Viper Energy Inc. has a one year low of $34.71 and a one year high of $52.03. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 23.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50-day simple moving average of $38.01 and a two-hundred day simple moving average of $37.93.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $418.00 million for the quarter, compared to the consensus estimate of $389.35 million. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The company’s quarterly revenue was up 98.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities analysts forecast that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, November 13th. Viper Energy’s payout ratio is currently 54.55%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Piper Sandler dropped their target price on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Jefferies Financial Group began coverage on shares of Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price target for the company. Wall Street Zen cut shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, TD Securities set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, September 30th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

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.