Weiss Asset Management LP Takes $1.78 Million Position in Viper Energy Inc. $VNOM

Weiss Asset Management LP acquired a new stake in Viper Energy Inc. (NASDAQ:VNOM) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,940 shares of the oil and gas producer’s stock, valued at approximately $1,783,000.

A number of other institutional investors also recently bought and sold shares of VNOM. Capital World Investors increased its stake in Viper Energy by 4.0% during the 4th quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock valued at $498,967,000 after purchasing an additional 493,203 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Viper Energy by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after buying an additional 1,144,863 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Viper Energy by 21.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after buying an additional 1,024,838 shares during the period. State Street Corp lifted its stake in shares of Viper Energy by 2.9% during the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after buying an additional 148,503 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Viper Energy by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock valued at $192,672,000 after buying an additional 258,082 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Up 0.0%

NASDAQ:VNOM opened at $45.14 on Monday. The firm has a market capitalization of $16.21 billion, a P/E ratio of -141.06 and a beta of 0.40. Viper Energy Inc. has a 1-year low of $35.10 and a 1-year high of $51.13. The company’s fifty day moving average price is $44.29 and its 200-day moving average price is $44.33. 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 posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 108.6% on a year-over-year basis. As a group, equities research analysts anticipate that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on VNOM shares. KeyCorp upped their target price on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Monday, April 13th. Truist Financial dropped their price target on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. TD cut their price objective on Viper Energy from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Citigroup increased their price objective on Viper Energy from $52.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.57.

Viper Energy 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.