Rhumbline Advisers Invests $3.08 Million in Viper Energy, Inc. (NASDAQ:VNOM)

Rhumbline Advisers acquired a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 81,957 shares of the oil and gas producer’s stock, valued at approximately $3,076,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aurora Investment Counsel boosted its stake in Viper Energy by 1.5% during the first quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock worth $2,024,000 after buying an additional 757 shares during the last quarter. Naples Global Advisors LLC boosted its stake in Viper Energy by 12.5% during the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after buying an additional 800 shares during the last quarter. Adalta Capital Management LLC boosted its stake in Viper Energy by 13.9% during the first quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock worth $285,000 after buying an additional 905 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Viper Energy by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 69,655 shares of the oil and gas producer’s stock worth $2,679,000 after buying an additional 909 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Viper Energy during the second quarter worth $36,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

VNOM stock opened at $44.84 on Wednesday. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $7.93 billion, a PE ratio of 16.49 and a beta of 1.73. Viper Energy, Inc. has a 12-month low of $26.73 and a 12-month high of $49.37. The business’s fifty day moving average price is $44.35 and its 200 day moving average price is $40.12.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. The firm had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. On average, sell-side analysts anticipate that Viper Energy, Inc. will post 2.09 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.68%. Viper Energy’s dividend payout ratio is presently 44.12%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VNOM shares. Evercore ISI boosted their price objective on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. TD Securities upped their price target on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Truist Financial upped their price target on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays upped their price target on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler upped their price target on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.17.

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.