Arizona State Retirement System Raises Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Arizona State Retirement System boosted its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,600 shares of the oil and gas producer’s stock after purchasing an additional 453 shares during the period. Arizona State Retirement System’s holdings in Viper Energy were worth $848,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Aurora Investment Counsel boosted its stake in Viper Energy by 1.5% in the first quarter. Aurora Investment Counsel now owns 52,626 shares of the oil and gas producer’s stock valued at $2,024,000 after acquiring an additional 757 shares during the last quarter. Naples Global Advisors LLC raised its holdings in shares of Viper Energy by 12.5% in the 2nd quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 800 shares during the period. Adalta Capital Management LLC lifted its stake in Viper Energy by 13.9% in the first quarter. Adalta Capital Management LLC now owns 7,405 shares of the oil and gas producer’s stock valued at $285,000 after purchasing an additional 905 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Viper Energy by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 69,655 shares of the oil and gas producer’s stock valued at $2,679,000 after purchasing an additional 909 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Viper Energy in the second quarter worth $36,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of recent research reports. Barclays upped their price target on 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 target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price target on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI raised their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, TD Securities increased their target price on Viper Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and an average price target of $48.17.

Viper Energy Trading Down 0.9 %

Shares of VNOM stock opened at $42.97 on Friday. Viper Energy, Inc. has a 52-week low of $26.73 and a 52-week high of $49.37. The business’s fifty day moving average is $44.15 and its 200 day moving average is $39.98. 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 company has a market capitalization of $7.60 billion, a PE ratio of 15.80 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company had revenue of $216.71 million during the quarter, compared to analyst estimates of $216.28 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Viper Energy’s revenue was up 34.8% on a year-over-year basis. On average, equities research analysts anticipate that Viper Energy, Inc. will post 2.09 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 dividend yield of 2.79%. The ex-dividend date was Thursday, August 15th. Viper Energy’s dividend payout ratio is currently 44.12%.

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.