Viper Energy Inc. $VNOM Stake Increased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC increased its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 16.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the oil and gas producer’s stock after buying an additional 50,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.12% of Viper Energy worth $13,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of VNOM. State Street Corp boosted its position in Viper Energy by 2.9% during the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after acquiring an additional 148,503 shares during the period. Geode Capital Management LLC lifted its position in shares of Viper Energy by 6.6% in the second quarter. Geode Capital Management LLC now owns 3,802,730 shares of the oil and gas producer’s stock worth $145,021,000 after purchasing an additional 235,374 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Viper Energy by 12.4% during the second quarter. Epoch Investment Partners Inc. now owns 2,687,541 shares of the oil and gas producer’s stock worth $102,476,000 after purchasing an additional 296,749 shares during the period. Boston Partners increased its stake in Viper Energy by 31.5% in the 2nd quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock valued at $85,337,000 after buying an additional 537,746 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its position in Viper Energy by 6.1% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,711,181 shares of the oil and gas producer’s stock worth $65,247,000 after buying an additional 98,742 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of research reports. TD Securities set a $54.00 price target on shares of Viper Energy in a research note on Tuesday, September 30th. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Jefferies Financial Group began coverage on Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased their target price on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $36.94 on Tuesday. The business’s 50-day simple moving average is $37.96 and its 200-day simple moving average is $37.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $52.03. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 24.81 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The firm had revenue of $418.00 million during the quarter, compared to analysts’ expectations of $389.35 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was up 98.1% on a year-over-year basis. As a group, equities research analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, November 13th. Viper Energy’s payout ratio is currently 54.55%.

Viper Energy Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.