B. Riley Wealth Advisors Inc. Sells 4,307 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 28.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,763 shares of the oil and gas producer’s stock after selling 4,307 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Viper Energy were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Viper Energy in the 2nd quarter valued at $36,000. Plato Investment Management Ltd lifted its position in shares of Viper Energy by 119.2% during the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,541 shares during the last quarter. ORG Partners LLC boosted its stake in Viper Energy by 962.3% during the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 2,550 shares during the period. Larson Financial Group LLC grew its holdings in Viper Energy by 94.4% in the 1st quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after buying an additional 2,019 shares during the last quarter. Finally, Sandia Investment Management LP bought a new position in Viper Energy in the 1st quarter worth approximately $192,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Trading Up 2.1 %

Shares of Viper Energy stock opened at $51.29 on Tuesday. The stock has a market capitalization of $9.07 billion, a P/E ratio of 18.86 and a beta of 1.73. Viper Energy, Inc. has a 12-month low of $27.47 and a 12-month high of $51.73. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $45.64 and a 200 day simple moving average of $41.06.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. During the same period in the previous year, the business earned $0.47 EPS. Viper Energy’s revenue was up 34.8% compared to the same quarter last year. Research analysts expect that Viper Energy, Inc. will post 1.99 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, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.34%. Viper Energy’s dividend payout ratio is 44.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VNOM. Evercore ISI raised their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Truist Financial reduced their target price on shares of Viper Energy from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler upped their price target on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. TD Securities upped their target price on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Viper Energy Company Profile

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.