Deroy & Devereaux Private Investment Counsel Inc. Acquires 17,695 Shares of Viper Energy Inc. $VNOM

Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 14.0% during the third quarter, HoldingsChannel reports. The firm owned 143,770 shares of the oil and gas producer’s stock after buying an additional 17,695 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Viper Energy were worth $5,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of VNOM. Financial Gravity Companies Inc. purchased a new position in Viper Energy in the 2nd quarter worth about $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Viper Energy in the third quarter worth approximately $31,000. Assetmark Inc. grew its stake in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 350 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Viper Energy by 503.3% during the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Viper Energy by 82.5% during the second quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 534 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Piper Sandler cut their price objective on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Wells Fargo & Company upped their price objective on Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Barclays raised their target price on Viper Energy from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group initiated coverage on shares of Viper Energy in a research report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

Viper Energy Price Performance

NASDAQ VNOM opened at $37.32 on Friday. The business’s fifty day moving average is $37.99 and its 200 day moving average is $37.94. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $52.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $13.42 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 25.24 and a beta of 0.48.

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

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued 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 yield of 3.5%. Viper Energy’s payout ratio is currently 54.55%.

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.