Ninepoint Partners LP Takes $4.52 Million Position in Viper Energy Inc. (NASDAQ:VNOM)

Ninepoint Partners LP purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the oil and gas producer's stock, valued at approximately $4,515,000. Viper Energy accounts for 0.7% of Ninepoint Partners LP's portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also made changes to their positions in the company. Freestone Grove Partners LP bought a new stake in shares of Viper Energy during the fourth quarter worth $19,469,000. T. Rowe Price Investment Management Inc. increased its position in shares of Viper Energy by 20.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer's stock worth $113,324,000 after acquiring an additional 389,473 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Viper Energy by 164.3% in the fourth quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock valued at $28,296,000 after purchasing an additional 358,487 shares in the last quarter. FIL Ltd raised its holdings in shares of Viper Energy by 8.5% in the fourth quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer's stock valued at $194,520,000 after purchasing an additional 310,890 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in Viper Energy by 36.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,072,101 shares of the oil and gas producer's stock worth $48,405,000 after buying an additional 283,628 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VNOM shares. TD Securities raised their target price on shares of Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and issued a $60.00 price objective (up from $54.00) on shares of Viper Energy in a report on Thursday, June 5th. KeyCorp reduced their target price on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Bank of America decreased their target price on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.46.

Viper Energy Price Performance

NASDAQ:VNOM traded down $0.06 on Friday, hitting $37.91. The company had a trading volume of 983,386 shares, compared to its average volume of 1,680,806. 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 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 17.33 and a beta of 0.97. The firm has a 50 day moving average of $39.35 and a two-hundred day moving average of $42.71.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million for the quarter, compared to analysts' expectations of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same period in the previous year, the business posted $0.49 earnings per share. On average, research analysts anticipate that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.17%. Viper Energy's payout ratio is 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.