State of Michigan Retirement System Raises Stock Holdings in Viper Energy Inc. (NASDAQ:VNOM)

State of Michigan Retirement System boosted its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 28.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,400 shares of the oil and gas producer's stock after purchasing an additional 7,000 shares during the quarter. State of Michigan Retirement System's holdings in Viper Energy were worth $1,418,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VNOM. Quarry LP acquired a new position in shares of Viper Energy in the fourth quarter worth $32,000. UMB Bank n.a. raised its holdings in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 414 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Viper Energy by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after acquiring an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Viper Energy in the fourth quarter worth $55,000. Finally, Covestor Ltd raised its holdings in shares of Viper Energy by 8,100.0% in the fourth quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 1,296 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Trading Up 1.4%

VNOM stock traded up $0.53 during trading on Friday, reaching $38.59. 776,991 shares of the stock traded hands, compared to its average volume of 1,420,300. The business's 50 day moving average price is $39.83 and its 200-day moving average price is $43.26. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70. The firm has a market capitalization of $11.13 billion, a PE ratio of 10.15, a P/E/G ratio of 17.73 and a beta of 0.97.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. The firm had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, sell-side analysts forecast that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy's payout ratio is 31.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on VNOM shares. Raymond James Financial reissued an "outperform" rating and issued a $60.00 price target (up from $54.00) on shares of Viper Energy in a report on Thursday, June 5th. KeyCorp cut their price target on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays upped their target price on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Evercore ISI upped their target price on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Piper Sandler upped their target price on Viper Energy from $65.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and an average target price of $57.46.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.