Ninepoint Partners LP Buys 150,000 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Ninepoint Partners LP lifted its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 30.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 650,000 shares of the oil and gas producer’s stock after purchasing an additional 150,000 shares during the quarter. Viper Energy comprises 2.2% of Ninepoint Partners LP’s portfolio, making the stock its 6th largest position. Ninepoint Partners LP owned approximately 0.37% of Viper Energy worth $20,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Viper Energy by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 600,462 shares of the oil and gas producer’s stock worth $16,741,000 after purchasing an additional 70,815 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Viper Energy by 18.9% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 181,535 shares of the oil and gas producer’s stock valued at $5,697,000 after acquiring an additional 28,800 shares during the period. Massachusetts Financial Services Co. MA increased its position in Viper Energy by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,827,514 shares of the oil and gas producer’s stock valued at $50,951,000 after acquiring an additional 21,977 shares during the period. GSA Capital Partners LLP acquired a new stake in Viper Energy in the 3rd quarter valued at approximately $1,747,000. Finally, Tower Research Capital LLC TRC increased its position in Viper Energy by 7,400.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 15,901 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 15,689 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Up 1.1 %

Shares of Viper Energy stock traded up $0.41 during midday trading on Friday, hitting $39.33. The company’s stock had a trading volume of 138,807 shares, compared to its average volume of 966,337. The firm has a market capitalization of $6.96 billion, a P/E ratio of 14.57 and a beta of 1.79. The stock has a 50-day simple moving average of $36.93 and a 200-day simple moving average of $32.53. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.38. Viper Energy, Inc. has a 1-year low of $24.48 and a 1-year high of $41.22.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.47 by $0.20. The business had revenue of $204.70 million during the quarter, compared to analysts’ expectations of $204.61 million. Viper Energy had a return on equity of 8.29% and a net margin of 24.17%. Viper Energy’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, sell-side analysts expect that Viper Energy, Inc. will post 1.72 earnings per share for the current year.

Viper Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $0.56 per share. This represents a dividend yield of 3%. This is a positive change from Viper Energy’s previous None dividend of $0.09. The ex-dividend date of this dividend was Monday, March 4th. Viper Energy’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VNOM shares. Barclays started coverage on Viper Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $44.00 price target on the stock. Truist Financial lifted their price target on Viper Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Piper Sandler lowered their price target on Viper Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Raymond James lowered their price target on Viper Energy from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, StockNews.com cut Viper Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.