Viper Energy Inc. $VNOM Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 25.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,108 shares of the oil and gas producer’s stock after purchasing an additional 12,034 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Viper Energy were worth $2,283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Mountain Lake Investment Management LLC purchased a new stake in Viper Energy during the 3rd quarter valued at about $9,853,000. Principal Financial Group Inc. grew its stake in Viper Energy by 26.1% during the 3rd quarter. Principal Financial Group Inc. now owns 374,739 shares of the oil and gas producer’s stock valued at $14,323,000 after acquiring an additional 77,519 shares in the last quarter. Citigroup Inc. grew its stake in Viper Energy by 58.7% during the 3rd quarter. Citigroup Inc. now owns 198,093 shares of the oil and gas producer’s stock valued at $7,571,000 after acquiring an additional 73,303 shares in the last quarter. Trilogy Capital Inc. grew its stake in Viper Energy by 190.4% during the 3rd quarter. Trilogy Capital Inc. now owns 59,960 shares of the oil and gas producer’s stock valued at $2,292,000 after acquiring an additional 39,315 shares in the last quarter. Finally, Titleist Asset Management LLC grew its stake in shares of Viper Energy by 958.9% in the 3rd quarter. Titleist Asset Management LLC now owns 223,426 shares of the oil and gas producer’s stock valued at $8,539,000 after buying an additional 202,326 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

Shares of VNOM stock opened at $46.79 on Friday. The firm’s 50 day moving average price is $46.40 and its 200-day moving average price is $41.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.72 and a current ratio of 6.17. Viper Energy Inc. has a one year low of $35.10 and a one year high of $51.13. The firm has a market cap of $16.73 billion, a P/E ratio of -146.21, a P/E/G ratio of 0.96 and a beta of 0.42.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.82 million. During the same period in the prior year, the business posted $0.54 EPS. The business’s revenue for the quarter was up 108.6% compared to the same quarter last year. As a group, equities research analysts predict that Viper Energy Inc. will post 2.39 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, May 14th. Viper Energy’s dividend payout ratio is currently -475.00%.

Wall Street Analysts Forecast Growth

VNOM has been the subject of several analyst reports. TD Securities increased their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. KeyCorp increased their price target on shares of Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Piper Sandler increased their price target on shares of Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $60.00 price target on shares of Viper Energy in a research note on Monday, April 20th. Finally, Truist Financial set a $58.00 price target on shares of Viper Energy in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $56.43.

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.