McAlvany Wealth Management LLC Invests $1.26 Million in Viper Energy Inc. $VNOM

McAlvany Wealth Management LLC bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 27,064 shares of the oil and gas producer’s stock, valued at approximately $1,264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in Viper Energy during the fourth quarter worth about $27,000. Parallel Advisors LLC grew its stake in shares of Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares during the period. UMB Bank n.a. bought a new stake in shares of Viper Energy in the 4th quarter valued at approximately $64,000. Nisa Investment Advisors LLC raised its holdings in shares of Viper Energy by 256.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock worth $69,000 after buying an additional 1,291 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of Viper Energy by 50.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after buying an additional 654 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Up 0.7%

NASDAQ VNOM opened at $44.38 on Friday. The stock’s 50 day simple moving average is $44.60 and its 200 day simple moving average is $44.06. Viper Energy Inc. has a one year low of $35.10 and a one year high of $51.13. The firm has a market cap of $15.93 billion, a PE ratio of -138.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business’s revenue for the quarter was up 108.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, sell-side analysts forecast that Viper Energy Inc. will post 2.41 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.4%. Viper Energy’s dividend payout ratio is -475.00%.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on Viper Energy in a research report on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target on the stock. Barclays lifted their price objective on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Truist Financial set a $58.00 target price on shares of Viper Energy in a report on Wednesday, May 6th. KeyCorp upped their target price on shares of Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Finally, Raymond James Financial increased their target price on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $58.00.

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.