Viper Energy, Inc. (NASDAQ:VNOM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 16.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,698,661 shares of the oil and gas producer’s stock after buying an additional 234,048 shares during the quarter. Geode Capital Management LLC owned approximately 0.96% of Viper Energy worth $76,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VNOM. Farther Finance Advisors LLC increased its holdings in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Viper Energy by 208.1% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 460 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Viper Energy during the 2nd quarter worth approximately $36,000. National Bank of Canada FI raised its position in shares of Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $47.64 on Friday. Viper Energy, Inc. has a fifty-two week low of $30.21 and a fifty-two week high of $56.76. The firm’s 50 day moving average is $52.26 and its two-hundred day moving average is $46.27. The company has a market cap of $8.98 billion, a P/E ratio of 20.45 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million for the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter last year, the firm earned $1.10 earnings per share. The firm’s revenue for the quarter was down 28.5% compared to the same quarter last year. Analysts expect that Viper Energy, Inc. will post 2.01 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, November 14th. Viper Energy’s payout ratio is currently 51.50%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Viper Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Truist Financial boosted their target price on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price target on the stock. Roth Mkm boosted their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Viper Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.18.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.