Principal Financial Group Inc. Grows Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Principal Financial Group Inc. boosted its holdings in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 3,200.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 235,307 shares of the oil and gas producer's stock after buying an additional 228,177 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Viper Energy worth $10,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Viper Energy by 23.3% during the first 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 during the last quarter. Capital World Investors raised its stake in Viper Energy by 16.8% during the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer's stock valued at $246,566,000 after buying an additional 923,276 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Viper Energy by 326.0% during the 2nd 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 last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Viper Energy by 19.8% during the 1st 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 buying an additional 496,131 shares during the period. Finally, Yaupon Capital Management LP boosted its stake in shares of Viper Energy by 137.8% in the 1st quarter. Yaupon Capital Management LP now owns 444,301 shares of the oil and gas producer's stock worth $17,088,000 after buying an additional 257,491 shares during the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

NASDAQ VNOM opened at $50.84 on Monday. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a twelve month low of $28.55 and a twelve month high of $56.08. The business has a 50-day moving average price of $49.55 and a 200-day moving average price of $43.83. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 21.82 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The business 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 for the quarter was down 28.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 EPS. As a group, equities research analysts predict that Viper Energy, Inc. will post 2.07 EPS for the current fiscal year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, November 14th. Viper Energy's dividend payout ratio (DPR) is presently 51.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Viper Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. Truist Financial boosted their price objective 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. TD Securities raised their target price on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Barclays boosted their price target on Viper Energy from $52.00 to $58.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, StockNews.com downgraded Viper Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.25.

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.