Louisiana State Employees Retirement System Takes Position in Viper Energy, Inc. (NASDAQ:VNOM)

Louisiana State Employees Retirement System bought a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 28,100 shares of the oil and gas producer’s stock, valued at approximately $1,268,000.

Several other hedge funds and other institutional investors have also modified their holdings of VNOM. Cross Staff Investments Inc acquired a new position in Viper Energy during the third quarter worth $212,000. Spirit of America Management Corp NY grew its holdings in shares of Viper Energy by 44.4% in the 3rd quarter. Spirit of America Management Corp NY now owns 28,450 shares of the oil and gas producer’s stock worth $1,283,000 after purchasing an additional 8,750 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Viper Energy by 7,251.2% during the 3rd quarter. International Assets Investment Management LLC now owns 71,454 shares of the oil and gas producer’s stock worth $3,223,000 after purchasing an additional 70,482 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Viper Energy by 3.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 314,273 shares of the oil and gas producer’s stock valued at $14,177,000 after purchasing an additional 10,223 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Viper Energy in the third quarter valued at about $144,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Up 0.5 %

Shares of VNOM opened at $52.16 on Friday. The stock’s fifty day simple moving average is $48.38 and its 200-day simple moving average is $42.79. The firm has a market capitalization of $9.23 billion, a PE ratio of 17.86 and a beta of 1.73. Viper Energy, Inc. has a 12-month low of $27.61 and a 12-month high of $53.25. 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 (NASDAQ:VNOM) last released its 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 company had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue was up 34.8% compared to the same quarter last year. As a group, research analysts predict that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is presently 41.10%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Roth Mkm raised their price target on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. TD Securities raised their target price on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Evercore ISI upped their price target 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.00.

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.