State of Alaska Department of Revenue Invests $528,000 in Viper Energy, Inc. (NASDAQ:VNOM)

State of Alaska Department of Revenue purchased a new stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,720 shares of the oil and gas producer’s stock, valued at approximately $528,000.

Several other hedge funds have also recently bought and sold shares of the business. Swiss National Bank grew its stake in Viper Energy by 17.3% during the 1st quarter. Swiss National Bank now owns 159,277 shares of the oil and gas producer’s stock valued at $6,126,000 after acquiring an additional 23,500 shares in the last quarter. Empowered Funds LLC lifted its position in Viper Energy by 458.2% in the 1st quarter. Empowered Funds LLC now owns 76,032 shares of the oil and gas producer’s stock worth $2,924,000 after buying an additional 62,411 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Viper Energy by 81.9% during the 1st quarter. Sei Investments Co. now owns 45,308 shares of the oil and gas producer’s stock valued at $1,743,000 after buying an additional 20,396 shares during the period. Amalgamated Bank acquired a new stake in shares of Viper Energy during the 2nd quarter valued at $616,000. Finally, Vanguard Group Inc. grew its holdings in shares of Viper Energy by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock valued at $326,184,000 after acquiring an additional 1,603,333 shares in the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Down 1.2 %

Shares of Viper Energy stock opened at $54.78 on Friday. Viper Energy, Inc. has a 12-month low of $28.55 and a 12-month high of $56.08. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $48.84 and a two-hundred day moving average price of $43.21. The stock has a market capitalization of $9.69 billion, a P/E ratio of 23.51 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.99%. Viper Energy’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. Equities analysts expect that Viper Energy, Inc. will post 2.03 earnings per share for the current year.

Viper Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, November 14th. Viper Energy’s dividend payout ratio is currently 51.50%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Securities lifted their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Roth Mkm lifted their target price on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

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.