Merewether Investment Management LP Acquires 160,600 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Merewether Investment Management LP lifted its position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 22.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 860,600 shares of the oil and gas producer's stock after purchasing an additional 160,600 shares during the period. Viper Energy comprises approximately 1.8% of Merewether Investment Management LP's portfolio, making the stock its 21st biggest holding. Merewether Investment Management LP owned about 0.49% of Viper Energy worth $38,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in Viper Energy in the third quarter valued at $984,000. Amalgamated Bank purchased a new position in Viper Energy during the second quarter valued at $616,000. Assenagon Asset Management S.A. lifted its position in Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer's stock valued at $28,554,000 after buying an additional 582,247 shares during the period. Summit Global Investments purchased a new position in Viper Energy during the third quarter valued at $706,000. Finally, Louisiana State Employees Retirement System purchased a new position in Viper Energy during the third quarter valued at $1,268,000. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded down $2.32 during mid-day trading on Wednesday, reaching $52.05. 761,038 shares of the company traded hands, compared to its average volume of 1,068,424. The company's 50 day moving average price is $51.72 and its 200-day moving average price is $45.25. The firm has a market cap of $9.81 billion, a PE ratio of 23.33 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy, Inc. has a 52 week low of $29.03 and a 52 week high of $56.76.

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, beating analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm's revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 EPS. On average, equities analysts expect that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.31%. Viper Energy's payout ratio is 51.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VNOM. JPMorgan Chase & Co. lifted their price target on Viper Energy from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Truist Financial lifted 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, November 6th. StockNews.com lowered Viper Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group began coverage on Viper Energy in a research report on Monday. They issued a "buy" rating and a $70.00 price target for the company. Finally, Piper Sandler lifted their price target on Viper Energy from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.20.

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.