Hohimer Wealth Management LLC Buys 74,251 Shares of Viper Energy Inc. $VNOM

Key Points

• Hohimer Wealth Management opened a new position in Viper Energy, buying 74,251 shares worth approximately $2.96 million in the third quarter.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $56.41; institutional investors own 87.72% of the company’s shares.
• Viper Energy beat quarterly earnings and revenue expectations, with revenue up 58.1% year over year. It also declared a quarterly dividend of $0.50 per share, equivalent to a 4.9% yield at the article’s stated share price.

Hohimer Wealth Management LLC bought a new stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 74,251 shares of the oil and gas producer's stock, valued at approximately $2,962,000.

A number of other institutional investors also recently modified their holdings of VNOM. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Viper Energy during the second quarter valued at $1,675,000. Bank of America Corp DE boosted its holdings in Viper Energy by 24.0% in the first quarter. Bank of America Corp DE now owns 795,347 shares of the oil and gas producer's stock valued at $37,373,000 after acquiring an additional 154,032 shares during the last quarter. Royal Bank of Canada increased its position in Viper Energy by 37.1% in the first quarter. Royal Bank of Canada now owns 370,040 shares of the oil and gas producer's stock worth $17,387,000 after purchasing an additional 100,193 shares during the period. Swiss National Bank raised its stake in shares of Viper Energy by 12.4% during 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. Finally, Weiss Asset Management LP acquired a new position in Viper Energy in the first quarter valued at approximately $1,783,000. Institutional investors own 87.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VNOM. Royal Bank Of Canada raised their price objective on shares of Viper Energy from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. Mizuho set a $57.00 target price on shares of Viper Energy in a research report on Tuesday, October 13th. TD Cowen reissued a "buy" rating on shares of Viper Energy in a research note on Tuesday, August 4th. Zacks Research upgraded Viper Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Finally, Weiss Ratings reaffirmed 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 given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and an average target price of $56.41.

Viper Energy Price Performance

NASDAQ VNOM opened at $40.62 on Monday. The business has a 50 day simple moving average of $43.60 and a 200 day simple moving average of $44.41. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.92 and a current ratio of 5.92. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 29.65 and a beta of 0.48.

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

Viper Energy Dividend Announcement

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

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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