Everence Capital Management Inc. Makes New $242,000 Investment in Viper Energy, Inc. (NASDAQ:VNOM)

Everence Capital Management Inc. acquired a new stake in Viper Energy, Inc. (NASDAQ:VNOM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,930 shares of the oil and gas producer’s stock, valued at approximately $242,000.

Several other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its stake in Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 450 shares in the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 460 shares in the last quarter. 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 acquiring an additional 1,165 shares in the last quarter. Versant Capital Management Inc purchased a new stake in Viper Energy during the fourth quarter worth approximately $94,000. Finally, Plato Investment Management Ltd boosted its holdings in Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 1,541 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Viper Energy from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Bank of America initiated coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective for the company. The Goldman Sachs Group began coverage on Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 target price on the stock. Roth Mkm boosted their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Securities raised their price target on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.36.

Viper Energy Stock Up 0.3 %

VNOM opened at $50.20 on Thursday. Viper Energy, Inc. has a 52 week low of $30.21 and a 52 week high of $56.76. The business has a 50 day moving average price of $51.60 and a two-hundred day moving average price of $47.48. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The company has a market cap of $9.46 billion, a PE ratio of 21.55 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) 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 business had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, research analysts anticipate that Viper Energy, Inc. will post 2.01 EPS for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

About Viper Energy

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.