37,940 Shares in Viper Energy Inc. $VNOM Purchased by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 37,940 shares of the oil and gas producer’s stock, valued at approximately $1,783,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of Viper Energy in the 1st quarter valued at about $37,464,000. Morningstar Investment Management LLC boosted its stake in shares of Viper Energy by 37.2% during the first quarter. Morningstar Investment Management LLC now owns 33,391 shares of the oil and gas producer’s stock valued at $1,569,000 after purchasing an additional 9,046 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Viper Energy by 6.7% during the first quarter. Public Employees Retirement System of Ohio now owns 54,882 shares of the oil and gas producer’s stock valued at $2,579,000 after buying an additional 3,438 shares during the period. Sei Investments Co. increased its holdings in Viper Energy by 32.8% during the first quarter. Sei Investments Co. now owns 53,046 shares of the oil and gas producer’s stock valued at $2,493,000 after buying an additional 13,114 shares during the period. Finally, Lido Advisors LLC increased its holdings in Viper Energy by 40.3% during the first 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 during the period. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

Shares of VNOM opened at $45.14 on Monday. The company has a market cap of $16.21 billion, a price-to-earnings ratio of -141.06 and a beta of 0.40. Viper Energy Inc. has a twelve month low of $35.10 and a twelve month high of $51.13. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $44.29 and a two-hundred day moving average of $44.33.

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

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. Viper Energy’s payout ratio is -475.00%.

Analyst Ratings Changes

A number of research firms have weighed in on VNOM. Truist Financial lowered their target price on Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, July 20th. Wall Street Zen downgraded Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Monday, April 13th. Mizuho upped their price objective on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada started coverage on Viper Energy in a research report on Friday, May 29th. They set an “outperform” rating and a $58.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price 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.