Renaissance Technologies LLC Acquires New Shares in Viper Energy Inc. $VNOM

Key Points

• Renaissance Technologies acquired 797,278 Viper Energy shares worth approximately $37.5 million, giving it a 0.22% stake. Institutional investors collectively own 87.72% of VNOM.
• Viper Energy exceeded quarterly expectations, reporting $0.55 in EPS versus a $0.43 consensus estimate and $511 million in revenue, up 108.6% year over year.
• The company paid a quarterly dividend of $0.38 per share, equivalent to a 3.5% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $57.57.

Renaissance Technologies LLC bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 797,278 shares of the oil and gas producer's stock, valued at approximately $37,464,000. Renaissance Technologies LLC owned about 0.22% of Viper Energy at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VNOM. Los Angeles Capital Management LLC acquired a new stake in shares of Viper Energy in the fourth quarter worth about $27,000. Parallel Advisors LLC increased its holdings in shares of Viper Energy by 68.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer's stock valued at $54,000 after acquiring an additional 568 shares during the last quarter. UMB Bank n.a. bought a new position in shares of Viper Energy in the 4th quarter valued at approximately $64,000. Nisa Investment Advisors LLC raised its stake 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 valued at $69,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake 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 valued at $75,000 after acquiring an additional 654 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $43.04 on Tuesday. The company has a market cap of $15.45 billion, a price-to-earnings ratio of -134.50 and a beta of 0.40. The business has a 50 day moving average price of $44.16 and a 200 day moving average price of $44.37. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. Viper Energy Inc. has a twelve month low of $35.10 and a twelve month high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. The company had revenue of $511.00 million for 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 company's revenue for the quarter was up 108.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. Research analysts predict that Viper Energy Inc. will post 2.42 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. Viper Energy's payout ratio is presently -475.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VNOM. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Viper Energy in a research report on Friday, July 17th. Barclays lifted their price target on shares of Viper Energy from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Mizuho boosted their price objective on shares of Viper Energy from $54.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Viper Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, KeyCorp raised their target price on shares of Viper Energy from $56.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 2nd. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.57.

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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