Fmr LLC Acquires 73,085 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

FMR LLC grew its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 4,836.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,596 shares of the oil and gas producer's stock after buying an additional 73,085 shares during the period. FMR LLC's holdings in Viper Energy were worth $3,365,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VNOM. Quantbot Technologies LP boosted its stake in Viper Energy by 30.8% in the 3rd quarter. Quantbot Technologies LP now owns 50,864 shares of the oil and gas producer's stock worth $2,294,000 after purchasing an additional 11,985 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Viper Energy by 424.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,778 shares of the oil and gas producer's stock worth $3,193,000 after purchasing an additional 57,281 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Viper Energy by 11.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer's stock worth $28,206,000 after purchasing an additional 66,222 shares in the last quarter. King Luther Capital Management Corp bought a new position in Viper Energy in the 3rd quarter worth about $231,000. Finally, Quest Partners LLC boosted its stake in Viper Energy by 1,437.9% in the 3rd quarter. Quest Partners LLC now owns 16,332 shares of the oil and gas producer's stock worth $737,000 after purchasing an additional 15,270 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research note on Monday, December 2nd. They issued a "buy" rating and a $70.00 price target on the stock. Piper Sandler boosted their target price on Viper Energy from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. KeyCorp raised Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 target price for the company in a research report on Friday. TD Securities boosted their target price on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their target price on Viper Energy from $43.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.27.

Viper Energy Stock Performance

Shares of NASDAQ VNOM traded down $0.03 during midday trading on Friday, hitting $51.19. 807,233 shares of the company's stock traded hands, compared to its average volume of 748,700. Viper Energy, Inc. has a 1 year low of $30.16 and a 1 year high of $56.76. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 21.97 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. The firm has a fifty day moving average of $52.46 and a 200 day moving average of $45.89.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm's quarterly revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. On average, analysts forecast that Viper Energy, Inc. will post 2.01 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy's dividend payout ratio is 51.50%.

About Viper Energy

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.