Encompass Capital Advisors LLC Invests $52.09 Million in Viper Energy Inc. $VNOM

Encompass Capital Advisors LLC bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,348,366 shares of the oil and gas producer’s stock, valued at approximately $52,087,000. Viper Energy accounts for approximately 2.1% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Encompass Capital Advisors LLC owned about 0.38% of Viper Energy at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Equitable Holdings Inc. bought a new stake in Viper Energy during the 4th quarter valued at approximately $257,000. Stansberry Asset Management LLC boosted its stake in Viper Energy by 2.7% during the 4th quarter. Stansberry Asset Management LLC now owns 84,270 shares of the oil and gas producer’s stock valued at $3,255,000 after purchasing an additional 2,240 shares during the period. iSAM Funds UK Ltd bought a new stake in Viper Energy during the 4th quarter valued at approximately $736,000. Jump Financial LLC acquired a new position in Viper Energy in the 4th quarter valued at approximately $480,000. Finally, Ninepoint Partners LP raised its holdings in Viper Energy by 700.0% in the 4th quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer’s stock valued at $46,356,000 after acquiring an additional 1,050,000 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on VNOM shares. Mizuho upped their price target on Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Raymond James Financial increased their target price on Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. TD Securities increased their target price on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Truist Financial set a $58.00 target price on Viper Energy in a report on Wednesday, May 6th. Finally, Roth Mkm reissued a “buy” rating and issued a $54.00 target price on shares of Viper Energy in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.38.

Viper Energy Trading Down 0.2%

Shares of VNOM opened at $43.36 on Thursday. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $51.13. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $46.54 and a 200-day simple moving average of $43.55. The stock has a market cap of $15.57 billion, a PE ratio of -135.50 and a beta of 0.38.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $499.82 million. During the same period last year, the firm posted $0.54 EPS. The business’s revenue was up 108.6% on a year-over-year basis. On average, sell-side analysts predict that Viper Energy Inc. will post 2.57 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, May 14th. Viper Energy’s dividend payout ratio (DPR) is currently -475.00%.

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.