Viper Energy Inc. $VNOM Shares Acquired by Recurrent Investment Advisors LLC

Key Points

• Recurrent Investment Advisors increased its Viper Energy stake by 36.9% in the first quarter, acquiring 266,703 shares to own 989,318 shares valued at approximately $46.5 million.
• Other institutional investors also established positions, and institutional investors and hedge funds collectively own 87.72% of Viper Energy.
• Viper Energy exceeded quarterly expectations with $0.55 in earnings per share versus the $0.43 consensus and $511 million in revenue. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $57.57, compared with a recent price of $42.04.

Recurrent Investment Advisors LLC boosted its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 36.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 989,318 shares of the oil and gas producer's stock after buying an additional 266,703 shares during the period. Viper Energy accounts for 2.8% of Recurrent Investment Advisors LLC's portfolio, making the stock its 18th biggest holding. Recurrent Investment Advisors LLC owned about 0.28% of Viper Energy worth $46,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. U.S. Capital Wealth Advisors LLC acquired a new stake in Viper Energy in the fourth quarter worth approximately $1,543,000. Taylor Frigon Capital Management LLC bought a new position in Viper Energy during the 4th quarter valued at $1,637,000. K.J. Harrison & Partners Inc acquired a new position in shares of Viper Energy during the 4th quarter valued at $1,777,000. Oak Thistle LLC acquired a new position in shares of Viper Energy during the 4th quarter valued at $1,332,000. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Viper Energy in the 4th quarter worth $4,493,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

NASDAQ VNOM opened at $42.04 on Wednesday. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $51.13. The business's fifty day moving average is $44.03 and its two-hundred day moving average is $44.41. The stock has a market capitalization of $15.09 billion, a P/E ratio of -131.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.12. The business had revenue of $511.00 million during the quarter, compared to analyst estimates 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 was up 108.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. On average, research analysts forecast that Viper Energy Inc. will post 2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Raymond James Financial upped their price objective on Viper Energy from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, May 26th. Truist Financial lowered their target price on Viper Energy from $58.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Wells Fargo & Company boosted their price target on shares of Viper Energy from $60.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Zacks Research downgraded shares of Viper Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 10th. Finally, TD reduced their price objective on shares of Viper Energy from $59.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.57.

Viper Energy 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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