Louisiana State Employees Retirement System Buys Shares of 28,100 Viper Energy, Inc. (NASDAQ:VNOM)

Louisiana State Employees Retirement System acquired a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,100 shares of the oil and gas producer's stock, valued at approximately $1,268,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer's stock valued at $326,184,000 after purchasing an additional 1,603,333 shares in the last quarter. Capital World Investors grew its stake in shares of Viper Energy by 16.8% during the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer's stock valued at $246,566,000 after acquiring an additional 923,276 shares in the last quarter. Scout Investments Inc. increased its position in shares of Viper Energy by 48.8% during the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer's stock worth $73,703,000 after acquiring an additional 634,036 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Viper Energy by 326.0% in 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, Epoch Investment Partners Inc. boosted its holdings in Viper Energy by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer's stock valued at $115,434,000 after purchasing an additional 496,131 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $0.26 during trading on Friday, hitting $52.16. 851,139 shares of the company traded hands, compared to its average volume of 781,521. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The business's fifty day moving average is $48.38 and its 200-day moving average is $42.82. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 17.86 and a beta of 1.72. Viper Energy, Inc. has a one year low of $27.61 and a one year high of $53.25.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. During the same period in the prior year, the business earned $0.47 EPS. The firm's revenue was up 34.8% on a year-over-year basis. As a group, equities analysts predict that Viper Energy, Inc. will post 2.03 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.30%. Viper Energy's dividend payout ratio is presently 41.10%.

Analyst Upgrades and Downgrades

VNOM has been the topic of several analyst reports. Truist Financial lifted their price objective on Viper Energy from $54.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Barclays upped their price target on shares of Viper Energy from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Tuesday, August 6th. TD Securities raised their price objective on shares of Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Roth Mkm upped their target price 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. Finally, 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 note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $49.00.

Viper Energy Company 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.