First Trust Advisors LP Has $21.93 Million Stock Holdings in Viper Energy Inc. $VNOM

Key Points

• First Trust Advisors LP increased its Viper Energy stake by 46.3% in the first quarter, acquiring 147,774 additional shares for a total position worth approximately $21.93 million. Institutional investors collectively own 87.72% of VNOM.
• Analyst sentiment remains favorable, with 15 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $57.57. Recent targets range from $58 to $61.
• Viper Energy reported quarterly EPS of $0.55, beating estimates of $0.43, while revenue rose 108.6% year over year to $511 million. Shares opened at $43.18, below the company’s 52-week high of $51.13.

First Trust Advisors LP increased its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 46.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,713 shares of the oil and gas producer's stock after acquiring an additional 147,774 shares during the period. First Trust Advisors LP owned about 0.13% of Viper Energy worth $21,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Wealth Managment LLC ID raised its stake in shares of Viper Energy by 8.3% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 45,585 shares of the oil and gas producer's stock worth $2,142,000 after purchasing an additional 3,497 shares in the last quarter. Parallel Advisors LLC increased its holdings in Viper Energy by 31.2% in the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer's stock worth $64,000 after buying an additional 322 shares during the last quarter. Swiss National Bank increased its holdings in Viper Energy by 12.4% in the first quarter. Swiss National Bank now owns 375,116 shares of the oil and gas producer's stock worth $17,627,000 after buying an additional 41,300 shares during the last quarter. Heartland Advisors Inc. raised its position in Viper Energy by 3.2% during the first quarter. Heartland Advisors Inc. now owns 530,479 shares of the oil and gas producer's stock valued at $24,927,000 after acquiring an additional 16,253 shares in the last quarter. Finally, McAlvany Wealth Management LLC acquired a new stake in Viper Energy in the first quarter valued at approximately $1,264,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VNOM shares. TD dropped their price target on shares of Viper Energy from $59.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Zacks Research downgraded shares of Viper Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Wells Fargo & Company raised their target price on Viper Energy from $60.00 to $61.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Raymond James Financial upped their price target on Viper Energy from $60.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Viper Energy in a report on Friday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Viper Energy has an average rating of "Moderate Buy" and a consensus price target of $57.57.

Viper Energy Price Performance

NASDAQ VNOM opened at $43.18 on Thursday. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $43.94 and a 200 day simple moving average of $44.46. The company has a market cap of $15.50 billion, a P/E ratio of -134.93 and a beta of 0.40. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. Viper Energy's revenue was up 108.6% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts predict that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Company Profile

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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