The Manufacturers Life Insurance Company Raises Position in Viper Energy, Inc. (NASDAQ:VNOM)

The Manufacturers Life Insurance Company boosted its position in Viper Energy, Inc. (NASDAQ:VNOM) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,497 shares of the oil and gas producer’s stock after acquiring an additional 1,006 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Viper Energy were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Swiss National Bank boosted its holdings in shares of Viper Energy by 17.3% during the first quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock worth $6,126,000 after purchasing an additional 23,500 shares during the period. Empowered Funds LLC grew its position in shares of Viper Energy by 458.2% during the 1st quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,924,000 after acquiring an additional 62,411 shares during the period. Sei Investments Co. lifted its stake in shares of Viper Energy by 81.9% during the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after buying an additional 20,396 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Viper Energy by 139.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 36,100 shares of the oil and gas producer’s stock valued at $1,133,000 after buying an additional 21,030 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in Viper Energy in the 2nd quarter worth $616,000. 87.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Truist Financial cut their price objective on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Piper Sandler lifted their price objective on shares of Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Securities raised their target price 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.63.

Viper Energy Stock Up 2.1 %

VNOM stock opened at $51.36 on Thursday. The stock has a market capitalization of $9.08 billion, a P/E ratio of 17.59 and a beta of 1.73. The firm has a 50-day simple moving average of $47.12 and a 200-day simple moving average of $41.77. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a 52 week low of $27.61 and a 52 week high of $52.32.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million for 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%. Viper Energy’s revenue was up 34.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Equities analysts forecast that Viper Energy, Inc. will post 1.98 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. Viper Energy’s dividend payout ratio is currently 41.10%.

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.