25,000 Shares in Viper Energy Inc. $VNOM Purchased by Canoe Financial LP

Canoe Financial LP purchased a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,000 shares of the oil and gas producer’s stock, valued at approximately $966,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Viper Energy by 28.0% in the 3rd quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock worth $646,180,000 after buying an additional 3,699,141 shares in the last quarter. Capital World Investors boosted its stake in Viper Energy by 18.7% in the 3rd quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock valued at $474,821,000 after buying an additional 1,957,417 shares in the last quarter. Oaktree Capital Management LP bought a new stake in Viper Energy in the third quarter valued at $240,215,000. State Street Corp grew its position in Viper Energy by 2.9% in the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after acquiring an additional 148,503 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in Viper Energy by 30.6% during the third quarter. Alyeska Investment Group L.P. now owns 2,801,010 shares of the oil and gas producer’s stock worth $107,055,000 after acquiring an additional 656,333 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VNOM. Citigroup boosted their target price on shares of Viper Energy from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. TD Securities increased their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Truist Financial started coverage on shares of Viper Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $54.00 price target for the company. Morgan Stanley boosted their price target on shares of Viper Energy from $44.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho upped their price objective on shares of Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.27.

Viper Energy Price Performance

Viper Energy stock opened at $47.85 on Friday. The business’s fifty day moving average is $43.90 and its two-hundred day moving average is $39.98. 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 firm has a market cap of $17.11 billion, a P/E ratio of -208.03, a P/E/G ratio of 1.25 and a beta of 0.48. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $49.08.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share 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 company had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.51 million. During the same period last year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was up 87.6% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders of record on Thursday, March 5th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Thursday, March 5th. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. Viper Energy’s dividend payout ratio is -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.