Viper Energy Inc. $VNOM Stock Holdings Trimmed by Oaktree Capital Management LP

Oaktree Capital Management LP cut its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 39.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,791,432 shares of the oil and gas producer’s stock after selling 2,493,630 shares during the quarter. Viper Energy makes up about 2.2% of Oaktree Capital Management LP’s holdings, making the stock its 8th largest holding. Oaktree Capital Management LP’s holdings in Viper Energy were worth $178,159,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR increased its stake in shares of Viper Energy by 1.8% in the first quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer’s stock worth $645,000 after acquiring an additional 245 shares during the period. Kestra Advisory Services LLC grew its holdings in Viper Energy by 1.2% in the first quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer’s stock valued at $1,027,000 after purchasing an additional 268 shares during the period. HB Wealth Management LLC increased its holdings in Viper Energy by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 317 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Viper Energy by 31.2% during the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 322 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Viper Energy by 1.8% in the first quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer’s stock valued at $988,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

VNOM has been the topic of several research reports. Truist Financial decreased their price target on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. KeyCorp increased their price objective on shares of Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. TD lowered their target price on Viper Energy from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Friday, July 17th. Finally, Royal Bank Of Canada initiated coverage on Viper Energy in a report on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.57.

Viper Energy Stock Up 2.7%

Shares of NASDAQ VNOM opened at $43.18 on Thursday. The company has a 50 day simple moving average of $43.94 and a 200-day simple moving average of $44.46. The company has a market capitalization of $15.50 billion, a P/E ratio of -134.93 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 Inc. has a 1 year low of $35.10 and a 1 year high of $51.13.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $499.81 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts predict that Viper Energy Inc. will post 2.42 earnings per share for the current year.

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.