Engineers Gate Manager LP Buys New Holdings in Viper Energy Inc. $VNOM

Key Points

• Engineers Gate Manager LP acquired 57,850 shares of Viper Energy during the second quarter, valued at approximately $2.45 million. Institutional investors and hedge funds collectively own 87.72% of the company.
• Viper Energy reported quarterly revenue of $677 million, up 127.9% year over year, while adjusted earnings of $0.76 per share matched analyst expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $56.93, compared with the stock’s recent price of $44.64.

Engineers Gate Manager LP purchased a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 57,850 shares of the oil and gas producer's stock, valued at approximately $2,453,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR grew its stake in Viper Energy by 1.8% in the first quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer's stock valued at $645,000 after acquiring an additional 245 shares during the period. Kestra Advisory Services LLC raised its position in shares of Viper Energy by 1.2% during the first quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer's stock worth $1,027,000 after purchasing an additional 268 shares during the period. Arizona State Retirement System lifted its holdings in shares of Viper Energy by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 52,276 shares of the oil and gas producer's stock worth $2,217,000 after purchasing an additional 312 shares in the last quarter. Parallel Advisors LLC grew its position in Viper Energy by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 322 shares during the period. Finally, Apollon Wealth Management LLC grew its position in Viper Energy by 1.8% in the 1st quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer's stock valued at $988,000 after purchasing an additional 368 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Stock Down 0.2%

Shares of NASDAQ:VNOM opened at $44.64 on Tuesday. The business's 50 day moving average is $43.68 and its 200 day moving average is $45.03. Viper Energy Inc. has a 12-month low of $35.10 and a 12-month high of $51.13. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 343.41 and a beta of 0.39. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly 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. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. During the same period in the prior year, the firm posted $0.41 EPS. Viper Energy's quarterly revenue was up 127.9% compared to the same quarter last year. On average, sell-side analysts forecast that Viper Energy Inc. will post 2.74 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $0.29 dividend. The ex-dividend date was Thursday, August 13th. This represents a dividend yield of 281.0%. Viper Energy's dividend payout ratio is presently 1,169.23%.

Analyst Ratings Changes

Several research firms have weighed in on VNOM. Morgan Stanley lowered their price objective on shares of Viper Energy from $49.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Viper Energy in a report on Friday, July 17th. Johnson Rice initiated coverage on shares of Viper Energy in a report on Monday, August 3rd. They set an "accumulate" rating and a $55.00 price objective for the company. Mizuho decreased their target price on shares of Viper Energy from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Tuesday, August 4th. Finally, Raymond James Financial set a $57.00 target price on shares of Viper Energy in a report on Friday, July 31st. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and a consensus price target of $56.93.

Viper Energy Profile

Viper Energy, Inc NASDAQ: VNOM is a mineral and royalty company focused on owning interests in oil and natural gas properties. Rather than drilling and operating wells directly, the company leases its mineral and royalty interests to exploration and production companies and receives a share of the revenue generated from the resulting production.

Viper's asset portfolio is concentrated in the Permian Basin, including the Midland and Delaware sub-basins in West Texas and southeastern New Mexico.

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