Apollon Wealth Management LLC Acquires 6,168 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Apollon Wealth Management LLC lifted its stake in Viper Energy, Inc. (NASDAQ:VNOM) by 72.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,707 shares of the oil and gas producer’s stock after purchasing an additional 6,168 shares during the quarter. Apollon Wealth Management LLC’s holdings in Viper Energy were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swiss National Bank raised its stake in Viper Energy by 17.3% during the first quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock valued at $6,126,000 after buying an additional 23,500 shares during the last quarter. Sei Investments Co. boosted its stake in Viper Energy by 81.9% in the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock worth $1,743,000 after purchasing an additional 20,396 shares in the last quarter. Vanguard Group Inc. grew its position in Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after purchasing an additional 1,603,333 shares during the last quarter. Carlson Capital L P increased its stake in Viper Energy by 69.6% during the 1st quarter. Carlson Capital L P now owns 94,443 shares of the oil and gas producer’s stock valued at $3,632,000 after purchasing an additional 38,767 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in Viper Energy in the first quarter worth about $232,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VNOM shares. TD Securities raised their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Piper Sandler upped their price target on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, Barclays upped their target price on shares of Viper Energy from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.25.

Viper Energy Stock Performance

VNOM opened at $50.84 on Friday. Viper Energy, Inc. has a 12-month low of $28.55 and a 12-month high of $56.08. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 21.82 and a beta of 1.72. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $49.55 and its 200 day moving average is $43.75.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. On average, equities research analysts predict that Viper Energy, Inc. will post 2.07 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. Viper Energy’s payout ratio is currently 51.50%.

Viper Energy 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.