Evergreen Capital Management LLC Sells 5,960 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Evergreen Capital Management LLC lessened its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,810 shares of the oil and gas producer’s stock after selling 5,960 shares during the quarter. Evergreen Capital Management LLC owned 0.06% of Viper Energy worth $4,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Viper Energy by 25.3% in the second quarter. Sei Investments Co. now owns 56,765 shares of the oil and gas producer’s stock valued at $2,130,000 after buying an additional 11,457 shares during the period. Blair William & Co. IL lifted its position in shares of Viper Energy by 10.0% during the 2nd quarter. Blair William & Co. IL now owns 22,100 shares of the oil and gas producer’s stock valued at $829,000 after acquiring an additional 2,000 shares during the period. O Brien Greene & Co. Inc grew its holdings in shares of Viper Energy by 17.0% during the 2nd quarter. O Brien Greene & Co. Inc now owns 11,699 shares of the oil and gas producer’s stock worth $439,000 after purchasing an additional 1,699 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Viper Energy during the 2nd quarter worth $616,000. Finally, Moors & Cabot Inc. increased its position in shares of Viper Energy by 4.1% in the second quarter. Moors & Cabot Inc. now owns 39,355 shares of the oil and gas producer’s stock worth $1,477,000 after purchasing an additional 1,545 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VNOM has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. TD Securities lifted their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Evercore ISI upped their target price on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Piper Sandler lifted their price target on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.17.

Viper Energy Stock Up 2.8 %

Shares of NASDAQ:VNOM opened at $46.92 on Tuesday. Viper Energy, Inc. has a 52-week low of $26.73 and a 52-week high of $49.37. The company has a market capitalization of $8.30 billion, a PE ratio of 17.25 and a beta of 1.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. The company has a fifty day moving average of $44.81 and a 200-day moving average of $40.38.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, equities analysts predict that Viper Energy, Inc. will post 2.06 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s payout ratio is 44.12%.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.