Louisiana State Employees Retirement System Acquires Shares of 53,900 Viper Energy Inc. $VNOM

Louisiana State Employees Retirement System acquired a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 53,900 shares of the oil and gas producer’s stock, valued at approximately $2,533,000.

A number of other institutional investors have also made changes to their positions in VNOM. Mountain Lake Investment Management LLC purchased a new stake in shares of Viper Energy during the third quarter worth about $9,853,000. JPMorgan Chase & Co. boosted its holdings in Viper Energy by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 428,168 shares of the oil and gas producer’s stock valued at $16,365,000 after purchasing an additional 124,259 shares during the last quarter. Citigroup Inc. boosted its holdings in Viper Energy by 58.7% in the third quarter. Citigroup Inc. now owns 198,093 shares of the oil and gas producer’s stock valued at $7,571,000 after purchasing an additional 73,303 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Viper Energy during the 4th quarter valued at approximately $1,543,000. Finally, Taylor Frigon Capital Management LLC acquired a new stake in Viper Energy during the 4th quarter valued at approximately $1,637,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VNOM has been the topic of a number of recent analyst reports. Mizuho upped their target price on Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Viper Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Piper Sandler lifted their price target on shares of Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Truist Financial set a $58.00 price target on shares of Viper Energy in a report on Wednesday, May 6th. Finally, Roth Mkm reiterated a “buy” rating and set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.15.

Viper Energy Stock Performance

Shares of VNOM stock opened at $42.41 on Tuesday. The company has a market cap of $15.23 billion, a P/E ratio of -132.53 and a beta of 0.38. The business has a 50 day moving average of $46.11 and a two-hundred day moving average of $43.78. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM) last announced its quarterly 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 business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $499.81 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business’s quarterly revenue was up 108.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. As a group, analysts anticipate that Viper Energy Inc. will post 2.57 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, May 14th. Viper Energy’s dividend payout ratio is presently -475.00%.

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.