1832 Asset Management L.P. Trims Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

1832 Asset Management L.P. lowered its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the oil and gas producer’s stock after selling 7,000 shares during the quarter. 1832 Asset Management L.P. owned about 0.07% of Viper Energy worth $4,504,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. TD Asset Management Inc purchased a new position in Viper Energy during the 4th quarter valued at about $24,448,000. Stephens Investment Management Group LLC lifted its holdings in shares of Viper Energy by 54.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,753,922 shares of the oil and gas producer’s stock valued at $55,038,000 after purchasing an additional 620,470 shares during the last quarter. Capital World Investors boosted its position in shares of Viper Energy by 7.2% in the 4th quarter. Capital World Investors now owns 5,487,692 shares of the oil and gas producer’s stock worth $172,204,000 after purchasing an additional 369,463 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Viper Energy by 91.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after buying an additional 1,197,567 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in Viper Energy during the 4th quarter valued at approximately $2,264,000. Institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Viper Energy Trading Up 1.3 %

NASDAQ:VNOM opened at $47.53 on Wednesday. The company has a market cap of $8.41 billion, a PE ratio of 17.47 and a beta of 1.73. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a 12 month low of $26.73 and a 12 month high of $49.37. The company has a 50 day simple moving average of $44.94 and a two-hundred day simple moving average of $40.47.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. Research analysts forecast that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. Viper Energy’s dividend payout ratio (DPR) is presently 44.12%.

About Viper Energy

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.