JPMorgan Chase & Co. Grows Position in Viper Energy, Inc. (NASDAQ:VNOM)

JPMorgan Chase & Co. lifted its position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 423.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,515 shares of the oil and gas producer's stock after buying an additional 135,513 shares during the period. JPMorgan Chase & Co. owned about 0.09% of Viper Energy worth $7,557,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VNOM. FMR LLC lifted its stake in Viper Energy by 4,836.9% during the 3rd quarter. FMR LLC now owns 74,596 shares of the oil and gas producer's stock valued at $3,365,000 after acquiring an additional 73,085 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Viper Energy during the third quarter valued at approximately $984,000. Geode Capital Management LLC lifted its position in Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer's stock valued at $76,647,000 after purchasing an additional 234,048 shares during the period. Amalgamated Bank purchased a new stake in Viper Energy in the second quarter worth approximately $616,000. Finally, Summit Global Investments bought a new stake in Viper Energy in the 3rd quarter worth approximately $706,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $70.00 target price for the company. Evercore ISI upped their price objective on Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Bank of America began coverage on Viper Energy in a research report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 target price on the stock. Piper Sandler cut their price target on Viper Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Finally, Raymond James increased their price objective on shares of Viper Energy from $58.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to MarketBeat.com, Viper Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Viper Energy Stock Performance

NASDAQ VNOM traded up $1.05 on Wednesday, reaching $51.42. 1,205,246 shares of the stock were exchanged, compared to its average volume of 819,267. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a one year low of $30.21 and a one year high of $56.76. The firm has a market capitalization of $9.69 billion, a PE ratio of 22.07 and a beta of 1.73. The company's 50-day simple moving average is $51.43 and its two-hundred day simple moving average is $47.91.

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 EPS for the quarter, beating the consensus estimate 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 6.72%. The company's revenue was down 28.5% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Analysts expect that Viper Energy, Inc. will post 2.01 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. Viper Energy's payout ratio is 51.50%.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.