Taylor Frigon Capital Management LLC Invests $1.64 Million in Viper Energy Inc. $VNOM

Taylor Frigon Capital Management LLC bought a new position in Viper Energy Inc. (NASDAQ:VNOM) during the 4th quarter, HoldingsChannel reports. The fund bought 42,384 shares of the oil and gas producer’s stock, valued at approximately $1,637,000.

Several other large investors have also made changes to their positions in VNOM. Oaktree Capital Management LP bought a new stake in Viper Energy during the 3rd quarter worth about $240,215,000. Vanguard Group Inc. grew its holdings in Viper Energy by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock worth $646,180,000 after acquiring an additional 3,699,141 shares during the last quarter. Capital World Investors grew its holdings in Viper Energy by 18.7% during the 3rd quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock worth $474,821,000 after acquiring an additional 1,957,417 shares during the last quarter. HITE Hedge Asset Management LLC grew its holdings in Viper Energy by 452.4% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer’s stock worth $63,521,000 after acquiring an additional 1,361,130 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Viper Energy by 7,413.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock worth $42,417,000 after acquiring an additional 1,095,052 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VNOM. Piper Sandler increased their price objective on shares of Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Truist Financial began coverage on shares of Viper Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. Barclays decreased their price objective on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. 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 report on Monday. Finally, KeyCorp increased their price objective on shares of Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $54.47.

Viper Energy Stock Up 3.2%

Shares of NASDAQ VNOM opened at $46.50 on Thursday. The firm has a market capitalization of $16.63 billion, a PE ratio of -202.17, a price-to-earnings-growth ratio of 1.00 and a beta of 0.50. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $49.08. The firm’s 50-day moving average is $45.40 and its 200-day moving average is $40.67.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.51 million. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The company’s revenue for the quarter was up 87.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 EPS. Equities analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were paid a $0.38 dividend. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. Viper Energy’s payout ratio is -660.87%.

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.