Pacific Heights Asset Management LLC Purchases 100,000 Shares of Viper Energy Inc. $VNOM

Pacific Heights Asset Management LLC boosted its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,000 shares of the oil and gas producer’s stock after purchasing an additional 100,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.13% of Viper Energy worth $17,384,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. North Dakota State Investment Board acquired a new position in shares of Viper Energy during the 4th quarter worth $230,000. Dana Investment Advisors Inc. boosted its stake in Viper Energy by 42.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 45,465 shares of the oil and gas producer’s stock valued at $1,756,000 after buying an additional 13,525 shares in the last quarter. Stephens Inc. AR boosted its stake in Viper Energy by 6.1% in the fourth quarter. Stephens Inc. AR now owns 13,475 shares of the oil and gas producer’s stock valued at $521,000 after buying an additional 771 shares in the last quarter. Pacer Advisors Inc. grew its position in Viper Energy by 1,672.3% in the fourth quarter. Pacer Advisors Inc. now owns 394,067 shares of the oil and gas producer’s stock valued at $15,223,000 after acquiring an additional 371,832 shares during the last quarter. Finally, Naples Global Advisors LLC raised its stake in Viper Energy by 37.7% during the fourth quarter. Naples Global Advisors LLC now owns 19,535 shares of the oil and gas producer’s stock worth $755,000 after acquiring an additional 5,345 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of NASDAQ VNOM opened at $48.98 on Monday. The company has a 50 day simple moving average of $46.64 and a 200 day simple moving average of $42.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $51.13. The firm has a market cap of $17.59 billion, a PE ratio of -153.06 and a beta of 0.42.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.82 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company’s revenue for the quarter was up 108.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. On average, research analysts forecast that Viper Energy Inc. will post 2.43 EPS for the current year.

Viper Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.1%. Viper Energy’s payout ratio is presently -475.00%.

Analyst Ratings Changes

VNOM has been the subject of a number of research reports. TD Securities increased their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Mizuho boosted their target price on shares of Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Truist Financial set a $58.00 price target on Viper Energy in a research note on Wednesday, May 6th. KeyCorp raised their price objective on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley boosted their price objective on Viper Energy from $44.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $56.50.

Viper Energy Company Profile

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.