Corigliano Investment Advisers LLC Invests $5.46 Million in Viper Energy, Inc. (NASDAQ:VNOM)

Corigliano Investment Advisers LLC purchased a new position in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 111,251 shares of the oil and gas producer's stock, valued at approximately $5,459,000. Viper Energy comprises approximately 2.6% of Corigliano Investment Advisers LLC's portfolio, making the stock its 19th largest position. Corigliano Investment Advisers LLC owned 0.05% of Viper Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Viper Energy by 3,200.2% during the 3rd quarter. Principal Financial Group Inc. now owns 235,307 shares of the oil and gas producer's stock worth $10,615,000 after acquiring an additional 228,177 shares in the last quarter. Barclays PLC raised its position in shares of Viper Energy by 103.3% in the 3rd quarter. Barclays PLC now owns 43,962 shares of the oil and gas producer's stock worth $1,982,000 after buying an additional 22,334 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Viper Energy during the fourth quarter valued at about $358,000. Rhumbline Advisers boosted its stake in Viper Energy by 6.4% in the fourth quarter. Rhumbline Advisers now owns 268,297 shares of the oil and gas producer's stock valued at $13,165,000 after acquiring an additional 16,172 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Viper Energy by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer's stock worth $495,360,000 after buying an additional 239,404 shares during the period. Hedge funds and other institutional investors own 87.72% of the company's stock.

Wall Street Analysts Forecast Growth

VNOM has been the subject of a number of recent research reports. StockNews.com cut shares of Viper Energy from a "hold" rating to a "sell" rating in a report on Wednesday, May 7th. KeyCorp decreased their price objective on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Raymond James set a $52.00 price target on shares of Viper Energy in a research note on Monday, April 21st. Piper Sandler reduced their price objective on shares of Viper Energy from $63.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial dropped their price objective on shares of Viper Energy from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.31.

Viper Energy Stock Up 3.5%

Shares of Viper Energy stock traded up $1.42 during trading on Monday, hitting $41.99. 376,629 shares of the stock traded hands, compared to its average volume of 1,301,316. The stock's fifty day simple moving average is $41.44 and its 200 day simple moving average is $47.26. Viper Energy, Inc. has a 52-week low of $34.71 and a 52-week high of $56.76. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a market cap of $8.95 billion, a P/E ratio of 18.00 and a beta of 1.05.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $245.00 million during the quarter, compared to analysts' expectations of $233.99 million. During the same period in the previous year, the business earned $0.49 earnings per share. On average, equities analysts predict that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.86%. Viper Energy's dividend payout ratio is currently 31.58%.

Viper Energy 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.