McAlvany Wealth Management LLC Takes Position in Viper Energy Inc. $VNOM

McAlvany Wealth Management LLC purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,064 shares of the oil and gas producer’s stock, valued at approximately $1,264,000.

Several other institutional investors have also recently bought and sold shares of VNOM. Capital World Investors lifted its holdings in Viper Energy by 4.0% during the 4th quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after buying an additional 493,203 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock valued at $443,918,000 after buying an additional 1,144,863 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock valued at $220,637,000 after buying an additional 1,024,838 shares during the period. State Street Corp raised its position in shares of Viper Energy by 2.9% during the second 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 last quarter. Finally, Geode Capital Management LLC raised its position in shares of Viper Energy by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock worth $192,672,000 after acquiring an additional 258,082 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Price Performance

VNOM opened at $44.38 on Friday. The company has a fifty day moving average price of $44.60 and a two-hundred day moving average price of $44.06. The firm has a market capitalization of $15.93 billion, a PE ratio of -138.68 and a beta of 0.40. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $499.81 million. During the same quarter in the prior year, the business posted $0.54 EPS. The firm’s quarterly revenue was up 108.6% on a year-over-year basis. As a group, analysts anticipate that Viper Energy Inc. will post 2.41 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.4%. Viper Energy’s dividend payout ratio is presently -475.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Capital set a $52.00 price target on Viper Energy in a research note on Wednesday. Mizuho lifted their price objective on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen cut Viper Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research downgraded shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Viper Energy Company 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.