Algert Global LLC Takes Position in Viper Energy, Inc. (NASDAQ:VNOM)

Algert Global LLC purchased a new position in Viper Energy, Inc. (NASDAQ:VNOM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,133 shares of the oil and gas producer’s stock, valued at approximately $305,000.

Several other large investors also recently added to or reduced their stakes in VNOM. Arizona State Retirement System increased its position in shares of Viper Energy by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 453 shares during the last quarter. Aurora Investment Counsel lifted its holdings in shares of Viper Energy by 1.5% in the 1st quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock worth $2,024,000 after acquiring an additional 757 shares during the last quarter. Naples Global Advisors LLC boosted its stake in shares of Viper Energy by 12.5% during the 2nd quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 800 shares during the period. Adalta Capital Management LLC grew its holdings in Viper Energy by 13.9% during the 1st quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock valued at $285,000 after purchasing an additional 905 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Viper Energy by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 69,655 shares of the oil and gas producer’s stock worth $2,679,000 after purchasing an additional 909 shares during the period. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Down 1.6 %

Shares of Viper Energy stock opened at $50.48 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 18.58 and a beta of 1.73. The firm’s 50-day moving average is $45.84 and its two-hundred day moving average is $41.15. Viper Energy, Inc. has a 1 year low of $27.47 and a 1 year high of $51.73.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The firm had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The company’s revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, research analysts expect that Viper Energy, Inc. will post 1.99 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, August 15th. Viper Energy’s payout ratio is 44.12%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial dropped their target price on Viper Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Piper Sandler upped their price objective on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. TD Securities upped their price target 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 lifted their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Viper Energy 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.