State of New Jersey Common Pension Fund D Lowers Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

State of New Jersey Common Pension Fund D decreased its position in Viper Energy, Inc. (NASDAQ:VNOM) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,949 shares of the oil and gas producer’s stock after selling 7,434 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Viper Energy were worth $1,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VNOM. Farther Finance Advisors LLC lifted its stake in shares of Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 450 shares in the last quarter. GAMMA Investing LLC boosted its stake in Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Viper Energy in the 2nd quarter worth $36,000. ORG Partners LLC raised its stake in shares of Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after purchasing an additional 2,550 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in shares of Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 1,541 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

NASDAQ VNOM opened at $52.69 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The business’s fifty day moving average is $49.55 and its 200 day moving average is $43.83. The company has a market capitalization of $9.93 billion, a PE ratio of 22.55 and a beta of 1.72. Viper Energy, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $56.08.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same period in the previous year, the company posted $1.10 EPS. The firm’s revenue was down 28.5% on a year-over-year basis. Sell-side analysts predict that Viper Energy, Inc. will post 2.07 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is 51.50%.

Analyst Upgrades and Downgrades

VNOM has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Viper Energy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. Barclays boosted their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Roth Mkm boosted their target price on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Truist Financial raised their price target on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

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.