Pacific Heights Asset Management LLC Buys 100,000 Shares of Viper Energy Inc. $VNOM

Pacific Heights Asset Management LLC grew its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 28.6% in the 4th quarter, Holdings Channel reports. The firm owned 450,000 shares of the oil and gas producer’s stock after acquiring an additional 100,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Viper Energy were worth $17,384,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Viper Energy by 38.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after purchasing an additional 13,218 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after buying an additional 174,684 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Viper Energy by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock valued at $9,233,000 after acquiring an additional 37,847 shares during the last quarter. Prudential Financial Inc. grew its holdings in Viper Energy by 30.7% during the 2nd quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock worth $487,000 after acquiring an additional 3,005 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Viper Energy by 6.5% during the 2nd quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock worth $878,000 after acquiring an additional 1,405 shares during the period. Institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VNOM shares. Citigroup upped their target price on Viper Energy from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Jefferies Financial Group upgraded Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday, April 13th. Zacks Research raised shares of Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Roth Mkm reiterated a “buy” rating and issued a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. Finally, Truist Financial set a $58.00 target price on shares of Viper Energy in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Viper Energy presently has an average rating of “Buy” and a consensus target price of $56.50.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $48.98 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13. The business’s 50 day simple moving average is $46.64 and its two-hundred day simple moving average is $42.12. The firm has a market cap of $17.59 billion, a P/E ratio of -153.06 and a beta of 0.42.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.82 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Viper Energy’s revenue for the quarter was up 108.6% on a year-over-year basis. As a group, research analysts forecast that Viper Energy Inc. will post 2.43 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.1%. Viper Energy’s dividend payout ratio is presently -475.00%.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.