Summit Global Investments Purchases New Position in Viper Energy, Inc. (NASDAQ:VNOM)

Summit Global Investments purchased a new position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,653 shares of the oil and gas producer's stock, valued at approximately $706,000.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Viper Energy by 3,200.2% during the third quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock worth $10,615,000 after buying an additional 228,177 shares during the period. Amalgamated Bank boosted its position in Viper Energy by 200.5% during the 3rd quarter. Amalgamated Bank now owns 49,334 shares of the oil and gas producer's stock worth $2,225,000 after acquiring an additional 32,916 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Viper Energy in the third quarter valued at approximately $211,000. Farther Finance Advisors LLC lifted its position in shares of Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 450 shares in the last quarter. Finally, Americana Partners LLC boosted its holdings in Viper Energy by 12.7% during the third quarter. Americana Partners LLC now owns 78,385 shares of the oil and gas producer's stock worth $3,536,000 after purchasing an additional 8,819 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

Shares of VNOM traded down $0.33 during trading hours on Friday, hitting $54.45. 824,281 shares of the company were exchanged, compared to its average volume of 792,801. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a fifty-two week low of $28.55 and a fifty-two week high of $56.08. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 23.37 and a beta of 1.72. The firm's fifty day moving average is $48.98 and its 200 day moving average is $43.34.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. The business's revenue for the quarter was down 28.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. On average, equities analysts anticipate that Viper Energy, Inc. will post 2.07 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, November 14th. Viper Energy's dividend payout ratio is presently 51.50%.

Analyst Ratings Changes

Several equities research analysts have issued reports on VNOM shares. Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Barclays raised their target price on shares of Viper Energy from $52.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Piper Sandler lifted their price objective on shares of Viper Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. Truist Financial boosted their price target on Viper Energy from $57.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.25.

Viper Energy Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.