Viper Energy Inc. $VNOM Stock Holdings Lowered by Oaktree Capital Management LP

Oaktree Capital Management LP trimmed its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 39.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,791,432 shares of the oil and gas producer’s stock after selling 2,493,630 shares during the period. Viper Energy makes up about 2.2% of Oaktree Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Oaktree Capital Management LP owned 1.06% of Viper Energy worth $178,159,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Viper Energy by 38.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock worth $2,162,000 after buying an additional 13,218 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after acquiring an additional 174,684 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Viper Energy by 22.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after purchasing an additional 37,847 shares during the period. Prudential Financial Inc. grew its stake in Viper Energy by 30.7% during the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock valued at $487,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Viper Energy by 6.5% during the second quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock valued at $878,000 after purchasing an additional 1,405 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Viper Energy stock opened at $43.18 on Thursday. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a market capitalization of $15.50 billion, a PE ratio of -134.93 and a beta of 0.40. The company has a 50 day moving average price of $43.94 and a 200-day moving average price of $44.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 108.6% on a year-over-year basis. As a group, equities analysts forecast that Viper Energy Inc. will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VNOM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Raymond James Financial increased their price target on shares of Viper Energy from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Morgan Stanley reduced their price objective on Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Barclays upped their price objective on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.57.

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.