Headlands Technologies LLC Acquires 28,867 Shares of Viper Energy Inc. $VNOM

Headlands Technologies LLC grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 286.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,927 shares of the oil and gas producer’s stock after purchasing an additional 28,867 shares during the quarter. Headlands Technologies LLC’s holdings in Viper Energy were worth $1,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VNOM. Capital World Investors grew its stake in shares of Viper Energy by 4.0% during the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after purchasing an additional 493,203 shares during the period. Wellington Management Group LLP boosted its stake in Viper Energy by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after acquiring an additional 1,144,863 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Viper Energy by 21.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock valued at $220,637,000 after purchasing an additional 1,024,838 shares during the period. State Street Corp grew its holdings in Viper Energy by 2.9% during the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after purchasing an additional 148,503 shares during the period. Finally, Geode Capital Management LLC increased its stake in Viper Energy by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock valued at $192,672,000 after purchasing an additional 258,082 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Trading Up 1.4%

VNOM opened at $44.79 on Tuesday. The stock has a market capitalization of $16.09 billion, a P/E ratio of 344.56 and a beta of 0.40. The firm’s fifty day simple moving average is $43.13 and its 200 day simple moving average is $45.01. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a current ratio of 6.37, a quick ratio of 6.37 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.Viper Energy’s revenue for the quarter was up 127.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts anticipate that Viper Energy Inc. will post 2.6 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently declared a special dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a yield of 281.0%. Viper Energy’s dividend payout ratio is 1,169.23%.

Analyst Ratings Changes

VNOM has been the topic of several analyst reports. Morgan Stanley cut their target price on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Truist Financial lowered their price objective on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Mizuho dropped their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Raymond James Financial set a $57.00 target price on Viper Energy in a report on Friday, July 31st. Finally, Barclays decreased their target price on Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.93.

Viper Energy 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.