Bank of New York Mellon Corp Buys 145,221 Shares of Viper Energy Inc. $VNOM

Bank of New York Mellon Corp grew its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 13.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,223,344 shares of the oil and gas producer’s stock after buying an additional 145,221 shares during the period. Bank of New York Mellon Corp’s holdings in Viper Energy were worth $57,485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Viper Energy in the 4th quarter valued at approximately $27,000. Parallel Advisors LLC grew its position in shares of Viper Energy by 68.3% in 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. UMB Bank n.a. acquired a new position in shares of Viper Energy during the 4th quarter worth about $64,000. Nisa Investment Advisors LLC lifted its stake in Viper Energy by 256.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock valued at $69,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Viper Energy by 50.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after purchasing an additional 654 shares during the period. Institutional investors own 87.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on VNOM. Wells Fargo & Company upped their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Zacks Research downgraded Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. KeyCorp boosted their target price on Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Truist Financial decreased their target price on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Monday. Finally, Citigroup increased their price target on Viper Energy from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $57.57.

Viper Energy Stock Down 0.3%

Viper Energy stock opened at $45.14 on Friday. Viper Energy Inc. has a twelve month low of $35.10 and a twelve month high of $51.13. The company’s 50-day moving average price is $44.36 and its two-hundred day moving average price is $44.27. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $16.21 billion, a P/E ratio of -141.06 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s quarterly revenue was up 108.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. As a group, analysts expect that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.4%. Viper Energy’s dividend payout ratio (DPR) is presently -475.00%.

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.