SCP Investment LP Purchases 23,800 Shares of Viper Energy Inc. $VNOM

SCP Investment LP grew its position in Viper Energy Inc. (NASDAQ:VNOM) by 56.9% in the second quarter, HoldingsChannel reports. The fund owned 65,600 shares of the oil and gas producer’s stock after acquiring an additional 23,800 shares during the quarter. Viper Energy accounts for about 2.0% of SCP Investment LP’s portfolio, making the stock its 7th largest position. SCP Investment LP’s holdings in Viper Energy were worth $2,501,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VNOM. Mutual of America Capital Management LLC raised its holdings in Viper Energy by 24.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 67,583 shares of the oil and gas producer’s stock worth $3,051,000 after purchasing an additional 13,187 shares during the period. Private Advisor Group LLC raised its stake in shares of Viper Energy by 5.1% during the 1st quarter. Private Advisor Group LLC now owns 8,260 shares of the oil and gas producer’s stock worth $373,000 after buying an additional 398 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Viper Energy during the 1st quarter valued at approximately $209,000. HB Wealth Management LLC lifted its position in shares of Viper Energy by 8.2% during the 1st quarter. HB Wealth Management LLC now owns 6,405 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 484 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viper Energy by 22.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,058 shares of the oil and gas producer’s stock valued at $1,673,000 after acquiring an additional 6,707 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Performance

Viper Energy stock opened at $36.05 on Thursday. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 16.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 6.15. The firm has a 50 day simple moving average of $37.44 and a 200-day simple moving average of $38.48. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $54.95.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $418.00 million during the quarter, compared to analyst estimates of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The firm’s revenue for the quarter was up 98.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. On average, analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, November 13th. Viper Energy’s payout ratio is 54.55%.

Analysts Set New Price Targets

VNOM has been the topic of several recent analyst reports. KeyCorp decreased their price objective on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Mizuho cut their price objective on Viper Energy from $55.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Piper Sandler lowered their target price on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Finally, TD Securities set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.13.

About Viper Energy

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.