Ancora Advisors LLC Buys 118,938 Shares of Viper Energy Inc. $VNOM

Key Points

• Ancora Advisors increased its Viper Energy stake by 68.2% in the second quarter, purchasing 118,938 shares and bringing its total holdings to 293,322 shares valued at approximately $12.4 million. Institutional investors collectively own 87.72% of the company.
• Viper Energy reported quarterly EPS of $0.76, in line with estimates, while revenue reached $677 million and increased 127.9% year over year. The company also paid a special dividend of $0.29 per share.
• Analysts maintain a generally positive outlook, with 16 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $56.93 versus the stock’s reported price of $45.39.

Ancora Advisors LLC raised its stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 68.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,322 shares of the oil and gas producer's stock after buying an additional 118,938 shares during the quarter. Ancora Advisors LLC owned about 0.08% of Viper Energy worth $12,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Viper Energy in the fourth quarter worth approximately $27,000. Parallel Advisors LLC increased its holdings in Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer's stock valued at $54,000 after buying an additional 568 shares during the last quarter. UMB Bank n.a. purchased a new stake in Viper Energy during the fourth quarter valued at approximately $64,000. Clearstead Advisors LLC raised its position in Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock worth $75,000 after acquiring an additional 654 shares during the period. Finally, Strive Financial Group LLC purchased a new position in shares of Viper Energy during the 4th quarter worth $97,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $45.39 on Wednesday. The firm's 50 day simple moving average is $43.17 and its 200-day simple moving average is $45.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37. Viper Energy Inc. has a one year low of $35.10 and a one year high of $51.13. The firm has a market cap of $16.30 billion, a PE ratio of 349.18 and a beta of 0.39.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting analysts' consensus estimates of $0.76. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The company's revenue for the quarter was up 127.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, equities analysts predict that Viper Energy Inc. will post 2.6 EPS for the current year.

Viper Energy Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a $0.29 dividend. This represents a dividend yield of 281.0%. The ex-dividend date of this dividend was Thursday, August 13th. Viper Energy's dividend payout ratio (DPR) is presently 1,169.23%.

Analysts Set New Price Targets

Several research firms recently issued reports on VNOM. Weiss Ratings reissued a "hold (c)" rating on shares of Viper Energy in a report on Friday, July 17th. Wall Street Zen lowered shares of Viper Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Truist Financial reduced their price objective on shares of Viper Energy from $58.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a research report on Friday, May 29th. They set an "outperform" rating and a $58.00 price objective on the stock. Finally, TD lifted their target price on shares of Viper Energy from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.93.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

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