Mutual of America Capital Management LLC Increases Position in Viper Energy Inc. $VNOM

Mutual of America Capital Management LLC raised its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 19.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,920 shares of the oil and gas producer’s stock after acquiring an additional 12,732 shares during the period. Mutual of America Capital Management LLC’s holdings in Viper Energy were worth $2,978,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new stake in shares of Viper Energy in the second quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Viper Energy during the third quarter worth $31,000. Assetmark Inc. grew its holdings in Viper Energy by 48.7% in the 2nd 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 in the last quarter. CoreCap Advisors LLC increased its stake in shares of Viper Energy by 503.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 906 shares during the last quarter. Finally, First Horizon Advisors Inc. raised 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 acquiring an additional 534 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $42.34 on Friday. 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 50 day moving average price of $38.52 and a 200 day moving average price of $38.07. The stock has a market capitalization of $15.22 billion, a P/E ratio of 17.50, a PEG ratio of 26.56 and a beta of 0.48.

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

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid 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 3.1%. Viper Energy’s dividend payout ratio is presently 54.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VNOM. Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Jefferies Financial Group initiated coverage on shares of Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 target price on the stock. Barclays cut their price target on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Morgan Stanley decreased their price objective on Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.73.

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.