Hennion & Walsh Asset Management Inc. Buys Shares of 7,943 Viper Energy, Inc. (NASDAQ:VNOM)

Hennion & Walsh Asset Management Inc. bought a new stake in Viper Energy, Inc. (NASDAQ:VNOM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,943 shares of the oil and gas producer’s stock, valued at approximately $390,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Viper Energy by 4,836.9% in the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer’s stock valued at $3,365,000 after buying an additional 73,085 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Viper Energy in the third quarter valued at $984,000. Geode Capital Management LLC lifted its stake in Viper Energy by 16.0% in the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after buying an additional 234,048 shares during the last quarter. Amalgamated Bank bought a new stake in Viper Energy in the second quarter valued at $616,000. Finally, Summit Global Investments bought a new stake in Viper Energy in the third quarter valued at $706,000. 87.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Piper Sandler cut their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Raymond James lifted their price objective on shares of Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Truist Financial lifted their price objective on shares of Viper Energy from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Bank of America initiated coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Viper Energy Price Performance

NASDAQ:VNOM opened at $50.20 on Wednesday. The business’s 50-day moving average price is $51.16 and its 200 day moving average price is $48.25. The firm has a market cap of $9.46 billion, a P/E ratio of 21.55 and a beta of 1.73. Viper Energy, Inc. has a 52-week low of $30.33 and a 52-week high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy’s revenue was down 28.5% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. As a group, sell-side analysts predict that Viper Energy, Inc. will post 2 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. Viper Energy’s dividend payout ratio is currently 51.50%.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.