State of Alaska Department of Revenue Makes New $528,000 Investment in Viper Energy, Inc. (NASDAQ:VNOM)

State of Alaska Department of Revenue bought a new stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,720 shares of the oil and gas producer's stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Louisiana State Employees Retirement System purchased a new position in Viper Energy during the 3rd quarter valued at approximately $1,268,000. Cross Staff Investments Inc purchased a new position in shares of Viper Energy in the third quarter valued at $212,000. Spirit of America Management Corp NY increased its position in Viper Energy by 44.4% in the third quarter. Spirit of America Management Corp NY now owns 28,450 shares of the oil and gas producer's stock worth $1,283,000 after purchasing an additional 8,750 shares during the last quarter. International Assets Investment Management LLC raised its stake in Viper Energy by 7,251.2% during the third quarter. International Assets Investment Management LLC now owns 71,454 shares of the oil and gas producer's stock valued at $3,223,000 after purchasing an additional 70,482 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Viper Energy by 3.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 314,273 shares of the oil and gas producer's stock valued at $14,177,000 after purchasing an additional 10,223 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Trading Down 0.6 %

VNOM traded down $0.33 during trading hours on Friday, reaching $54.45. 824,191 shares of the company's stock traded hands, compared to its average volume of 1,092,272. The firm has a 50-day moving average price of $48.98 and a 200 day moving average price of $43.31. The firm has a market capitalization of $9.63 billion, a PE ratio of 23.37 and a beta of 1.72. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a 52-week low of $28.55 and a 52-week high of $56.08.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its earnings results 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 firm had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. The business's revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 earnings per share. As a group, sell-side analysts predict that Viper Energy, Inc. will post 2.03 EPS for the current fiscal year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. Viper Energy's dividend payout ratio is currently 51.50%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VNOM shares. TD Securities boosted their target price 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. Piper Sandler boosted their price objective on Viper Energy from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Truist Financial raised their price objective on Viper Energy from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday. StockNews.com downgraded Viper Energy from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, Barclays raised their price target on Viper Energy from $52.00 to $58.00 and gave the stock an "overweight" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.25.

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.