Sei Investments Co. Grows Stock Holdings in Viper Energy Inc. $VNOM

Sei Investments Co. lifted its stake in Viper Energy Inc. (NASDAQ:VNOM) by 32.8% during the first quarter, HoldingsChannel.com reports. The firm owned 53,046 shares of the oil and gas producer’s stock after purchasing an additional 13,114 shares during the quarter. Sei Investments Co.’s holdings in Viper Energy were worth $2,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lido Advisors LLC increased its position in Viper Energy by 40.3% during the 1st quarter. Lido Advisors LLC now owns 51,877 shares of the oil and gas producer’s stock valued at $2,438,000 after buying an additional 14,898 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Viper Energy by 12.7% in the first quarter. Cetera Investment Advisers now owns 29,669 shares of the oil and gas producer’s stock worth $1,394,000 after acquiring an additional 3,352 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Viper Energy in the first quarter worth $711,000. First Trust Advisors LP grew its stake in shares of Viper Energy by 46.3% in the first quarter. First Trust Advisors LP now owns 466,713 shares of the oil and gas producer’s stock worth $21,931,000 after acquiring an additional 147,774 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of Viper Energy by 8.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 45,585 shares of the oil and gas producer’s stock worth $2,142,000 after acquiring an additional 3,497 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Down 1.4%

Viper Energy stock opened at $40.82 on Friday. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 314.02 and a beta of 0.40. The stock has a fifty day simple moving average of $43.46 and a two-hundred day simple moving average of $44.67. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a current ratio of 6.37, a quick ratio of 6.17 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 127.9% on a year-over-year basis. Equities analysts predict that Viper Energy Inc. will post 2.54 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a yield of 266.0%. Viper Energy’s payout ratio is 1,169.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research note on Friday, July 17th. Mizuho decreased their target price on shares of Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Barclays lifted their target price on shares of Viper Energy from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.07.

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.