CIBC Bancorp USA Inc. Takes $32.79 Million Position in Viper Energy Inc. $VNOM

CIBC Bancorp USA Inc. bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) during the third quarter, according to its most recent filing with the SEC. The fund bought 857,845 shares of the oil and gas producer’s stock, valued at approximately $32,787,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VNOM. Steigerwald Gordon & Koch Inc. purchased a new stake in Viper Energy during the third quarter worth about $31,000. Ameriflex Group Inc. purchased a new position in Viper Energy in the third quarter valued at about $38,000. CoreCap Advisors LLC boosted its stake in Viper Energy by 503.3% in the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 906 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Viper Energy by 68.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 568 shares during the period. Finally, Bogart Wealth LLC purchased a new stake in shares of Viper Energy during the 3rd quarter worth approximately $57,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. TD Securities lifted their price target on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Barclays reduced their price objective on 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 target price on Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Piper Sandler boosted their target price on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Wells Fargo & Company upped their price target on Viper Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.79.

Viper Energy Stock Performance

NASDAQ VNOM opened at $47.14 on Thursday. The company’s 50 day moving average is $42.41 and its 200-day moving average is $39.54. Viper Energy Inc. has a 12-month low of $34.71 and a 12-month high of $48.00. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The firm has a market cap of $16.85 billion, a P/E ratio of -204.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.51 million. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. Viper Energy’s revenue for the quarter was up 87.6% on a year-over-year basis. During the same period last year, the firm earned $2.04 EPS. Sell-side analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th were given a dividend of $0.38 per share. This is an increase from Viper Energy’s previous quarterly dividend of $0.33. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, March 5th. Viper Energy’s dividend payout ratio (DPR) is currently -660.87%.

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.