Savant Capital LLC Invests $525,000 in Viper Energy, Inc. (NASDAQ:VNOM)

Savant Capital LLC purchased a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM) in the second quarter, HoldingsChannel reports. The fund purchased 13,996 shares of the oil and gas producer’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VNOM. Vanguard Group Inc. grew its holdings in shares of Viper Energy by 1,045.4% during the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after buying an additional 6,277,324 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Viper Energy by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after acquiring an additional 2,246,219 shares during the last quarter. Scout Investments Inc. acquired a new stake in shares of Viper Energy in the fourth quarter worth approximately $40,808,000. Epoch Investment Partners Inc. boosted its position in shares of Viper Energy by 91.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after acquiring an additional 1,197,567 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Viper Energy by 16.8% in the first quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after acquiring an additional 923,276 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VNOM shares. Barclays raised their target price on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Truist Financial raised their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TD Securities raised their target price on shares of Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI raised their target price on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Piper Sandler lifted their price target on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.17.

Viper Energy Trading Down 3.9 %

Shares of VNOM stock opened at $43.35 on Friday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 15.94 and a beta of 1.73. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a fifty-two week low of $26.73 and a fifty-two week high of $49.37. The firm’s 50 day moving average price is $44.07 and its two-hundred day moving average price is $39.90.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The firm had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. Viper Energy’s revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. On average, analysts anticipate that Viper Energy, Inc. will post 2.1 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.77%. Viper Energy’s dividend payout ratio is currently 44.12%.

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.