Truist Financial Corp Increases Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Truist Financial Corp grew its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,230 shares of the oil and gas producer’s stock after buying an additional 488 shares during the quarter. Truist Financial Corp’s holdings in Viper Energy were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VNOM. Vanguard Group Inc. increased its position in shares of Viper Energy by 1,045.4% in the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after buying an additional 6,277,324 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Viper Energy by 139.5% in the fourth 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. True North Advisors LLC purchased a new stake in shares of Viper Energy in the first quarter valued at approximately $722,000. Requisite Capital Management LLC increased its position in shares of Viper Energy by 2.7% in the first quarter. Requisite Capital Management LLC now owns 46,672 shares of the oil and gas producer’s stock valued at $1,795,000 after buying an additional 1,228 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Viper Energy in the first quarter valued at approximately $537,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VNOM has been the subject of a number of recent analyst reports. Roth Mkm boosted their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial dropped their price target 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 boosted their price target on Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday. TD Securities boosted their price target on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Evercore ISI boosted their price target on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.63.

Viper Energy Stock Up 1.1 %

Shares of NASDAQ:VNOM opened at $51.91 on Friday. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $47.24 and a two-hundred day moving average of $41.84. The stock has a market cap of $9.18 billion, a P/E ratio of 17.78 and a beta of 1.73. Viper Energy, Inc. has a 52-week low of $27.61 and a 52-week high of $52.32.

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, beating the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, research analysts expect that Viper Energy, Inc. will post 1.98 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 dividend yield of 2.31%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio is presently 41.10%.

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.