Oak Thistle LLC Acquires New Stake in Viper Energy Inc. $VNOM

Oak Thistle LLC acquired a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,477 shares of the oil and gas producer’s stock, valued at approximately $1,332,000.

A number of other hedge funds also recently bought and sold shares of VNOM. Steigerwald Gordon & Koch Inc. bought a new position in Viper Energy in the 3rd quarter worth $31,000. Ameriflex Group Inc. bought a new position in Viper Energy in the 3rd quarter worth $38,000. CoreCap Advisors LLC raised its holdings in Viper Energy by 503.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 906 shares during the period. Parallel Advisors LLC raised its holdings in Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 568 shares during the period. Finally, Bogart Wealth LLC bought a new position in Viper Energy in the 3rd quarter worth $57,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Price Performance

NASDAQ:VNOM opened at $44.82 on Friday. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $45.11 and its two-hundred day simple moving average is $40.47. The stock has a market cap of $16.03 billion, a PE ratio of -194.86, a P/E/G ratio of 1.01 and a beta of 0.50. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $49.08.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.51 million. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The business’s quarterly revenue was up 87.6% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. As a group, analysts forecast that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th were issued a dividend of $0.38 per share. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. This represents a $1.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, March 5th. Viper Energy’s payout ratio is -660.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VNOM. Truist Financial began coverage on Viper Energy in a report on Tuesday, March 24th. They issued a “buy” rating and a $54.00 target price on the stock. Wells Fargo & Company raised their target price on Viper Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Citigroup raised their target price on Viper Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Wall Street Zen raised Viper Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, KeyCorp raised their target price on Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Viper Energy Company Profile

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.