Greenwood Capital Associates LLC Purchases 15,027 Shares of Viper Energy Inc. $VNOM

Greenwood Capital Associates LLC grew its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 175.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,590 shares of the oil and gas producer’s stock after acquiring an additional 15,027 shares during the period. Greenwood Capital Associates LLC’s holdings in Viper Energy were worth $902,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in shares of Viper Energy during the 2nd quarter valued at about $27,000. AlphaQuest LLC acquired a new position in Viper Energy in the first quarter valued at approximately $41,000. Assetmark Inc. lifted its stake in Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 350 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Viper Energy by 82.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 534 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Viper Energy by 65.6% during the 2nd quarter. UMB Bank n.a. now owns 1,217 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 482 shares during the period. 87.72% of the stock is owned by institutional investors.

Viper Energy Trading Down 0.8%

NASDAQ:VNOM opened at $38.11 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50-day moving average of $37.89 and a 200-day moving average of $38.19. The company has a market cap of $13.70 billion, a PE ratio of 15.75, a PEG ratio of 17.76 and a beta of 0.48. Viper Energy Inc. has a one year low of $34.71 and a one year high of $52.10.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $418.00 million for the quarter, compared to analysts’ expectations of $389.35 million. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm’s revenue for the quarter was up 98.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. As a group, equities research analysts expect that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 3.5%. Viper Energy’s payout ratio is presently 54.55%.

Analysts Set New Price Targets

VNOM has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Barclays lifted their price target on shares of Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Morgan Stanley cut their price objective on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Finally, Piper Sandler dropped their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Fourteen equities research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

Viper Energy Company 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.