The Manufacturers Life Insurance Company raised its position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 424.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,778 shares of the oil and gas producer's stock after purchasing an additional 57,281 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Viper Energy were worth $3,193,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of VNOM. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock worth $26,000 after buying an additional 450 shares in the last quarter. Arizona State Retirement System boosted its stake in Viper Energy by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer's stock worth $848,000 after purchasing an additional 453 shares during the period. Andina Capital Management LLC raised its stake in Viper Energy by 3.8% during the 3rd quarter. Andina Capital Management LLC now owns 12,612 shares of the oil and gas producer's stock valued at $569,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Viper Energy by 4.5% in the second quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer's stock worth $421,000 after buying an additional 488 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
VNOM has been the topic of several recent analyst reports. Roth Mkm upped their price target on Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Truist Financial increased their price target on shares of Viper Energy from $57.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. 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 on the stock. Finally, The Goldman Sachs Group began coverage on Viper Energy in a report on Monday, December 2nd. They set a "buy" rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.90.
Get Our Latest Research Report on Viper Energy
Viper Energy Stock Performance
NASDAQ:VNOM traded down $1.45 during midday trading on Friday, reaching $51.01. The stock had a trading volume of 1,138,663 shares, compared to its average volume of 719,495. The stock has a market capitalization of $9.61 billion, a P/E ratio of 21.89 and a beta of 1.71. Viper Energy, Inc. has a 1-year low of $29.16 and a 1-year high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The firm's fifty day simple moving average is $52.11 and its 200-day simple moving average is $45.54.
Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping 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 business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same period in the previous year, the company posted $1.10 earnings per share. The firm's revenue for the quarter was down 28.5% on a year-over-year basis. On average, equities research analysts forecast that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.
Viper Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.35%. Viper Energy's dividend payout ratio is 51.50%.
About Viper Energy
(
Free Report)
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.
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