1,000,000 Shares in Viper Energy Inc. $VNOM Purchased by Bornite Capital Management LP

Bornite Capital Management LP acquired a new stake in Viper Energy Inc. (NASDAQ:VNOM) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,000,000 shares of the oil and gas producer’s stock, valued at approximately $38,220,000. Viper Energy accounts for 3.5% of Bornite Capital Management LP’s portfolio, making the stock its 10th largest holding. Bornite Capital Management LP owned 0.35% of Viper Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Viper Energy by 38.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock worth $2,162,000 after purchasing an additional 13,218 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Viper Energy by 264.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock worth $10,872,000 after buying an additional 174,684 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Viper Energy by 22.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock valued at $9,233,000 after buying an additional 37,847 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Viper Energy by 3.7% during the 2nd quarter. New York State Teachers Retirement System now owns 27,774 shares of the oil and gas producer’s stock valued at $1,059,000 after acquiring an additional 995 shares during the period. Finally, Pacific Heights Asset Management LLC lifted its position in shares of Viper Energy by 20.0% during the second quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the oil and gas producer’s stock worth $11,439,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Up 1.4%

Shares of NASDAQ VNOM opened at $44.61 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $39.80 and a 200-day moving average of $38.58. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 27.81 and a beta of 0.51. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $51.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VNOM shares. Piper Sandler reduced their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Barclays cut their target price on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Jefferies Financial Group assumed coverage on shares of Viper Energy in a research report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $52.71.

About Viper Energy

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.