CIBC Private Wealth Group LLC Raises Holdings in Viper Energy Inc. $VNOM

CIBC Private Wealth Group LLC grew its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 42,842,150.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 856,845 shares of the oil and gas producer’s stock after buying an additional 856,843 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Viper Energy were worth $32,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VNOM. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Viper Energy during the 3rd quarter worth $31,000. Ameriflex Group Inc. purchased a new stake in Viper Energy during the third quarter worth about $38,000. CoreCap Advisors LLC grew its position in 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 worth $42,000 after buying an additional 906 shares during the period. Parallel Advisors LLC increased its holdings in Viper Energy by 68.3% in the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 568 shares in the last quarter. Finally, Bogart Wealth LLC acquired a new stake in shares of Viper Energy during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. TD Securities boosted their price target on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note 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. Wall Street Zen upgraded Viper Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Morgan Stanley lowered their target price 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, Mizuho raised their price target on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $51.79.

Viper Energy Price Performance

VNOM stock opened at $47.32 on Friday. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.72 and a current ratio of 3.72. The stock’s 50 day moving average price is $42.63 and its 200 day moving average price is $39.59. The firm has a market cap of $16.92 billion, a P/E ratio of -205.73, a PEG ratio of 1.59 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The firm had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.51 million. During the same quarter in the prior year, the firm earned $2.04 EPS. Viper Energy’s quarterly revenue was up 87.6% on a year-over-year basis. On average, sell-side analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

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

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.