Diversify Advisory Services LLC acquired a new position in Viper Energy, Inc. (NASDAQ:VNOM – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,223 shares of the oil and gas producer’s stock, valued at approximately $203,000.
Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Viper Energy by 22.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,013 shares of the oil and gas producer’s stock worth $95,000 after acquiring an additional 547 shares during the last quarter. ORG Partners LLC lifted its position in Viper Energy by 26.7% in the fourth quarter. ORG Partners LLC now owns 3,230 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 680 shares during the last quarter. Larson Financial Group LLC boosted its stake in Viper Energy by 94.4% during the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 2,019 shares during the period. Sandia Investment Management LP bought a new position in Viper Energy during the first quarter valued at $192,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Viper Energy in the first quarter valued at $232,000. Institutional investors own 87.72% of the company’s stock.
Viper Energy Price Performance
NASDAQ VNOM opened at $45.75 on Monday. Viper Energy, Inc. has a 12-month low of $26.71 and a 12-month high of $46.00. The firm’s fifty day simple moving average is $39.52 and its two-hundred day simple moving average is $37.67. The company has a current ratio of 7.06, a quick ratio of 3.46 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $8.09 billion, a P/E ratio of 16.70 and a beta of 1.74.
Viper Energy (NASDAQ:VNOM – Get Free Report) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Analysts forecast that Viper Energy, Inc. will post 1.95 EPS for the current fiscal year.
Viper Energy Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, August 15th. Viper Energy’s dividend payout ratio (DPR) is presently 44.12%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on VNOM. Barclays boosted their target price on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI boosted their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Piper Sandler increased their target price on Viper Energy from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. TD Securities lifted their target price on Viper Energy from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Truist Financial upped their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.86.
Check Out Our Latest Report on Viper Energy
Viper Energy Company 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.
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