State Street Corp Raises Position in Viper Energy, Inc. (NASDAQ:VNOM)

State Street Corp increased its holdings in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 78.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,833,257 shares of the oil and gas producer's stock after buying an additional 1,682,183 shares during the quarter. State Street Corp owned about 2.17% of Viper Energy worth $172,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its position in Viper Energy by 4,836.9% during the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer's stock valued at $3,365,000 after acquiring an additional 73,085 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Viper Energy during the 3rd quarter valued at about $984,000. Amalgamated Bank purchased a new stake in shares of Viper Energy during the 2nd quarter valued at about $616,000. Summit Global Investments bought a new position in shares of Viper Energy in the 3rd quarter worth approximately $706,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Viper Energy in the 3rd quarter worth approximately $1,268,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on VNOM shares. JPMorgan Chase & Co. upped their target price on shares of Viper Energy from $43.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Bank of America assumed coverage on Viper Energy in a research note on Tuesday, November 26th. They issued a "buy" rating and a $64.00 price objective for the company. Piper Sandler lifted their target price on Viper Energy from $61.00 to $64.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Truist Financial upped 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. Finally, TD Securities raised their price objective on Viper Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.27.

Viper Energy Price Performance

Shares of VNOM stock traded down $0.03 during trading hours on Friday, hitting $51.19. The stock had a trading volume of 807,233 shares, compared to its average volume of 748,700. The stock's 50-day moving average price is $52.46 and its two-hundred day moving average price is $45.89. Viper Energy, Inc. has a one year low of $30.16 and a one year high of $56.76. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 21.97 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 (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for 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 company's revenue was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. Equities analysts forecast that Viper Energy, Inc. will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.34%. Viper Energy's dividend payout ratio (DPR) is currently 51.50%.

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.