Oppenheimer Asset Management Inc. Purchases 6,566 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Oppenheimer Asset Management Inc. lifted its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 45.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 21,102 shares of the oil and gas producer’s stock after acquiring an additional 6,566 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Viper Energy were worth $792,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VNOM. International Assets Investment Management LLC purchased a new stake in Viper Energy in the second quarter worth about $36,000. ORG Partners LLC lifted its position in shares of 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 worth $107,000 after purchasing an additional 2,550 shares during the period. Larson Financial Group LLC boosted its stake in shares of Viper Energy by 94.4% during the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 2,019 shares in the last quarter. Sandia Investment Management LP purchased a new position in Viper Energy during the first quarter valued at approximately $192,000. Finally, Diversify Advisory Services LLC bought a new position in Viper Energy in the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of VNOM stock opened at $45.45 on Friday. Viper Energy, Inc. has a fifty-two week low of $26.73 and a fifty-two week high of $49.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.06 and a current ratio of 7.06. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 16.71 and a beta of 1.73. The stock’s 50-day simple moving average is $44.57 and its 200-day simple moving average is $40.19.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same quarter in the prior year, the business posted $0.47 EPS. Viper Energy’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, equities analysts forecast that Viper Energy, Inc. will post 2.06 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. Viper Energy’s dividend payout ratio (DPR) is 44.12%.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Evercore ISI lifted their target price on 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 report on Tuesday, August 6th. Truist Financial lifted their price objective 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. Finally, TD Securities increased their target price on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus price target of $48.17.

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.