MetLife Investment Management LLC Boosts Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

MetLife Investment Management LLC boosted its holdings in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 1,773.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,774 shares of the oil and gas producer's stock after acquiring an additional 50,903 shares during the period. MetLife Investment Management LLC's holdings in Viper Energy were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of Viper Energy by 12.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer's stock valued at $78,282,000 after purchasing an additional 224,021 shares during the period. TD Asset Management Inc boosted its position in shares of Viper Energy by 2.6% during the 2nd quarter. TD Asset Management Inc now owns 841,414 shares of the oil and gas producer's stock worth $31,578,000 after acquiring an additional 21,420 shares in the last quarter. SIR Capital Management L.P. increased its stake in shares of Viper Energy by 26.5% in the 2nd quarter. SIR Capital Management L.P. now owns 776,800 shares of the oil and gas producer's stock valued at $29,153,000 after purchasing an additional 162,900 shares during the last quarter. Assenagon Asset Management S.A. raised its stake 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 worth $28,554,000 after acquiring an additional 582,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Viper Energy by 11.8% during 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. Institutional investors and hedge funds own 87.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. The Goldman Sachs Group assumed coverage on Viper Energy in a research report on Monday. They issued a "buy" rating and a $70.00 target price for the company. Bank of America started coverage on shares of Viper Energy in a report on Tuesday, November 26th. They set a "buy" rating and a $64.00 price target for the company. StockNews.com lowered shares of Viper Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Piper Sandler lifted their target price on shares of Viper Energy from $61.00 to $64.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Finally, Truist Financial upped their price target on shares of Viper Energy from $57.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.90.

Viper Energy Stock Up 0.8 %

VNOM stock traded up $0.41 during midday trading on Thursday, reaching $52.46. 550,861 shares of the company's stock traded hands, compared to its average volume of 1,066,329. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm's fifty day moving average price is $51.99 and its 200-day moving average price is $45.35. Viper Energy, Inc. has a 52 week low of $29.03 and a 52 week high of $56.76. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 22.52 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter last year, the company earned $1.10 earnings per share. The company's revenue for the quarter was down 28.5% on a year-over-year basis. As a group, sell-side analysts forecast that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The company also recently disclosed 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 was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.29%. Viper Energy's dividend payout ratio (DPR) 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.