32,439 Shares in Viper Energy Inc. $VNOM Acquired by Point Nemo Capital LLC

Key Points

• Point Nemo Capital opened a Viper Energy position of 32,439 shares in the third quarter, valued at approximately $1.294 million. Institutional investors collectively own 87.72% of the company’s stock.
• Viper Energy reported quarterly earnings of $0.72 per share, above the $0.69 consensus estimate, while revenue of $661 million beat estimates and rose 58.1% year over year.
• The company declared a $0.50 quarterly dividend, equivalent to $2.00 annually and a 4.9% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $56.41.

Point Nemo Capital LLC acquired a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,439 shares of the oil and gas producer's stock, valued at approximately $1,294,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VNOM. Renaissance Technologies LLC purchased a new stake in Viper Energy in the 1st quarter valued at $37,464,000. Ashford Capital Management Inc. purchased a new position in shares of Viper Energy during the 1st quarter worth $16,103,000. Recurrent Investment Advisors LLC raised its holdings in shares of Viper Energy by 36.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 989,318 shares of the oil and gas producer's stock worth $46,488,000 after acquiring an additional 266,703 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Viper Energy during the 2nd quarter worth $10,792,000. Finally, Ninepoint Partners LP acquired a new position in shares of Viper Energy during the 2nd quarter valued at about $10,600,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

VNOM stock opened at $40.62 on Friday. The business has a fifty day moving average of $43.60 and a two-hundred day moving average of $44.41. The company has a quick ratio of 6.37, a current ratio of 5.92 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 29.65 and a beta of 0.49. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.69 by $0.03. Viper Energy had a return on equity of 4.24% and a net margin of 12.08%. The business had revenue of $661.00 million for the quarter, compared to analyst estimates of $625.18 million. During the same quarter in the prior year, the company posted $0.40 EPS. The company's quarterly revenue was up 58.1% on a year-over-year basis. As a group, research analysts anticipate that Viper Energy Inc. will post 2.92 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, November 12th. Viper Energy's payout ratio is 110.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Roth Capital reissued a "buy" rating on shares of Viper Energy in a report on Tuesday, August 4th. Mizuho set a $57.00 price objective on shares of Viper Energy in a research report on Tuesday, October 13th. Morgan Stanley lifted their target price on shares of Viper Energy from $46.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, October 15th. Royal Bank Of Canada boosted their target price on shares of Viper Energy from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, October 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Viper Energy in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.41.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties. Rather than serving primarily as a drilling operator, the company earns revenue from production on acreage where other companies conduct exploration and development.

Its interests are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper's business is tied to activity by the operators that develop the underlying properties.

Originally formed as Viper Energy Partners LP in 2014 as an affiliate of Diamondback Energy, the company later converted to a corporation and adopted the Viper Energy, Inc name.

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