Victory Capital Management Inc. Buys 234,976 Shares of Viper Energy Inc. $VNOM

Victory Capital Management Inc. raised its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 135.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 408,493 shares of the oil and gas producer’s stock after purchasing an additional 234,976 shares during the period. Victory Capital Management Inc. owned 0.14% of Viper Energy worth $15,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Beacon Pointe Advisors LLC purchased a new position in shares of Viper Energy during the 2nd quarter valued at $608,000. JPMorgan Chase & Co. increased its stake in Viper Energy by 15.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 303,909 shares of the oil and gas producer’s stock worth $11,588,000 after buying an additional 39,867 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in Viper Energy during the second quarter valued at about $505,000. Trilogy Capital Inc. lifted its position in shares of Viper Energy by 190.4% in the third quarter. Trilogy Capital Inc. now owns 59,960 shares of the oil and gas producer’s stock valued at $2,292,000 after acquiring an additional 39,315 shares in the last quarter. Finally, Titleist Asset Management LLC boosted its stake in shares of Viper Energy by 958.9% in the third quarter. Titleist Asset Management LLC now owns 223,426 shares of the oil and gas producer’s stock worth $8,539,000 after acquiring an additional 202,326 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ VNOM opened at $43.07 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.72 and a quick ratio of 3.72. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $48.00. The business has a 50 day simple moving average of $41.52 and a two-hundred day simple moving average of $39.30. The stock has a market capitalization of $15.40 billion, a PE ratio of -187.25 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.51 million. During the same period in the prior year, the company earned $2.04 EPS. The company’s quarterly revenue was up 87.6% compared to the same quarter last year. On average, research analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, March 5th. This is an increase from Viper Energy’s previous quarterly dividend of $0.33. Viper Energy’s dividend payout ratio is -660.87%.

Analyst Ratings Changes

Several research firms recently issued reports on VNOM. Barclays cut their target price on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Viper Energy from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reduced their price objective on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Piper Sandler dropped their target price on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $51.43.

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.