Nemes Rush Group LLC Takes $11.78 Million Position in Viper Energy Inc. $VNOM

Nemes Rush Group LLC acquired a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) during the fourth quarter, HoldingsChannel reports. The firm acquired 304,836 shares of the oil and gas producer’s stock, valued at approximately $11,776,000. Viper Energy accounts for approximately 1.1% of Nemes Rush Group LLC’s portfolio, making the stock its 29th largest holding.

Several other institutional investors have also bought and sold shares of the stock. Ironsides Asset Advisors LLC lifted its holdings in Viper Energy by 3.7% in the third quarter. Ironsides Asset Advisors LLC now owns 7,841 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 280 shares during the period. HB Wealth Management LLC lifted its holdings in Viper Energy by 5.3% in the fourth quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock worth $245,000 after purchasing an additional 317 shares during the period. Aurora Investment Counsel lifted its holdings in Viper Energy by 1.0% in the third quarter. Aurora Investment Counsel now owns 37,746 shares of the oil and gas producer’s stock worth $1,443,000 after purchasing an additional 359 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Viper Energy by 4.6% in the third quarter. Moneta Group Investment Advisors LLC now owns 9,239 shares of the oil and gas producer’s stock worth $353,000 after purchasing an additional 409 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in Viper Energy by 0.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 128,182 shares of the oil and gas producer’s stock worth $4,952,000 after purchasing an additional 477 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of VNOM opened at $45.46 on Friday. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of -142.06 and a beta of 0.38. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. The business’s 50-day moving average is $46.93 and its 200-day moving average is $43.05.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $499.82 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s quarterly revenue was up 108.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Equities research analysts expect that Viper Energy Inc. will post 2.5 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, May 14th. Viper Energy’s dividend payout ratio is presently -475.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday, April 13th. Raymond James Financial upped their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. KeyCorp boosted their price target on shares of Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Zacks Research upgraded shares of Viper Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Mizuho boosted their price target on shares of Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $58.38.

Viper Energy Company Profile

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.