McAlvany Wealth Management LLC Invests $1.26 Million in Viper Energy Inc. $VNOM

Key Points

• McAlvany Wealth Management LLC opened a new position in Viper Energy, buying 27,064 shares worth about $1.26 million in the first quarter.
• Viper Energy reported better-than-expected quarterly earnings, posting $0.55 EPS versus the $0.43 estimate and revenue of $511 million, up 108.6% year over year.
• The company also paid a quarterly dividend of $0.38 per share and continues to draw generally bullish analyst sentiment, with a consensus rating of Moderate Buy and average price target of $58.

McAlvany Wealth Management LLC bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 27,064 shares of the oil and gas producer's stock, valued at approximately $1,264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in Viper Energy during the fourth quarter worth about $27,000. Parallel Advisors LLC grew its stake in shares of Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 568 shares during the period. UMB Bank n.a. bought a new stake in shares of Viper Energy in the 4th quarter valued at approximately $64,000. Nisa Investment Advisors LLC raised its holdings in shares of Viper Energy by 256.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer's stock worth $69,000 after buying an additional 1,291 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of Viper Energy by 50.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock worth $75,000 after buying an additional 654 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Up 0.7%

NASDAQ VNOM opened at $44.38 on Friday. The stock's 50 day simple moving average is $44.60 and its 200 day simple moving average is $44.06. 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 $15.93 billion, a PE ratio of -138.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business's revenue for the quarter was up 108.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, sell-side analysts forecast that Viper Energy Inc. will post 2.41 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.4%. Viper Energy's dividend payout ratio is -475.00%.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on Viper Energy in a research report on Friday, May 29th. They issued an "outperform" rating and a $58.00 price target on the stock. Barclays lifted their price objective on Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Truist Financial set a $58.00 target price on shares of Viper Energy in a report on Wednesday, May 6th. KeyCorp upped their target price on shares of Viper Energy from $56.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, April 2nd. Finally, Raymond James Financial increased their target price on shares of Viper Energy from $60.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued 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 target price of $58.00.

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.

Want to see what other hedge funds are holding VNOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viper Energy Inc. (NASDAQ:VNOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.