Viper Energy Inc. $VNOM Stock Acquired by QV Investors Inc.

QV Investors Inc. grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 36.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,195 shares of the oil and gas producer’s stock after buying an additional 12,980 shares during the period. QV Investors Inc.’s holdings in Viper Energy were worth $1,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VNOM. Stephens Investment Management Group LLC grew its holdings in shares of Viper Energy by 8.2% during the first quarter. Stephens Investment Management Group LLC now owns 1,231,728 shares of the oil and gas producer’s stock valued at $57,879,000 after buying an additional 93,498 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Viper Energy by 13.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,223,344 shares of the oil and gas producer’s stock valued at $57,485,000 after acquiring an additional 145,221 shares during the period. Recurrent Investment Advisors LLC increased its position in shares of Viper Energy by 36.9% in the 1st quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer’s stock valued at $46,488,000 after acquiring an additional 266,703 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Viper Energy in the 1st quarter valued at $37,464,000. Finally, Bank of America Corp DE raised its stake in Viper Energy by 24.0% in the 1st quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer’s stock worth $37,373,000 after acquiring an additional 154,032 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Up 0.7%

VNOM opened at $45.85 on Wednesday. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37. The company has a fifty day moving average of $43.30 and a two-hundred day moving average of $44.40. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 22.54 and a beta of 0.50.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The business had revenue of $677.00 million during the quarter, compared to the consensus estimate of $643.45 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue was up 127.9% compared to the same quarter last year. On average, research analysts expect that Viper Energy Inc. will post 2.77 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently declared a special dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a yield of 281.0%. Viper Energy’s dividend payout ratio (DPR) is currently 1,169.23%.

Analysts Set New Price Targets

Several analysts have weighed in on VNOM shares. Scotiabank assumed coverage on Viper Energy in a research note on Wednesday, October 14th. They set a “sector outperform” rating and a $54.00 price target on the stock. Citigroup cut their price objective on Viper Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Raymond James Financial set a $57.00 price objective on Viper Energy in a research note on Friday, July 31st. Barclays decreased their target price on Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Finally, TD lifted their target price on Viper Energy from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $56.56.

Viper Energy Profile

Viper Energy, Inc (NASDAQ: VNOM) owns mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin of West Texas and New Mexico. The company’s interests are concentrated in the Midland and Delaware basins, two of the most active producing regions in the United States.

Viper generally does not operate wells or directly conduct drilling and completion activities. Instead, it leases its mineral interests to exploration and production companies and receives royalty, overriding royalty and other mineral-related payments from the sale of hydrocarbons produced on those properties.