Raymond James & Associates Sells 5,839 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Raymond James & Associates lowered its position in Viper Energy, Inc. (NASDAQ:VNOM) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,694 shares of the oil and gas producer’s stock after selling 5,839 shares during the period. Raymond James & Associates owned 0.06% of Viper Energy worth $3,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC raised its position in Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 2,550 shares during the last quarter. Larson Financial Group LLC lifted its position in Viper Energy by 94.4% during the 1st quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 2,019 shares in the last quarter. Sandia Investment Management LP bought a new stake in Viper Energy during the 1st quarter worth about $192,000. Diversify Advisory Services LLC acquired a new stake in Viper Energy in the 2nd quarter valued at about $203,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Viper Energy in the first quarter worth about $232,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Trading Down 1.4 %

Shares of NASDAQ VNOM opened at $47.60 on Friday. The company’s 50 day simple moving average is $42.68 and its 200 day simple moving average is $39.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The firm has a market capitalization of $8.42 billion, a P/E ratio of 17.50 and a beta of 1.74. Viper Energy, Inc. has a fifty-two week low of $26.73 and a fifty-two week high of $48.72.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. On average, analysts predict that Viper Energy, Inc. will post 2.08 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders 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 yield of 2.52%. Viper Energy’s dividend payout ratio (DPR) is presently 44.12%.

Analysts Set New Price Targets

VNOM has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays increased their price target on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Truist Financial increased their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. TD Securities increased their price target on shares of Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their price target on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.71.

About Viper Energy

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.