Bernzott Capital Advisors Has $6.47 Million Stock Holdings in Viper Energy Inc. $VNOM

Bernzott Capital Advisors boosted its position in Viper Energy Inc. (NASDAQ:VNOM) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,739 shares of the oil and gas producer’s stock after acquiring an additional 22,018 shares during the quarter. Viper Energy accounts for 3.1% of Bernzott Capital Advisors’ holdings, making the stock its 16th largest holding. Bernzott Capital Advisors’ holdings in Viper Energy were worth $6,472,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VNOM. Oaktree Capital Management LP bought a new stake in shares of Viper Energy during the 3rd quarter worth $240,215,000. HITE Hedge Asset Management LLC grew its position in Viper Energy by 452.4% in the third quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer’s stock valued at $63,521,000 after acquiring an additional 1,361,130 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in Viper Energy during the fourth quarter worth about $52,087,000. Wellington Management Group LLP raised its stake in Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after acquiring an additional 1,144,863 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new position in shares of Viper Energy in the fourth quarter worth about $42,550,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Trading Down 3.1%

VNOM opened at $41.67 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company’s 50 day moving average price is $45.20 and its two-hundred day moving average price is $43.90. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of -130.21 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS 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 negative net margin of 2.77% and a positive return on equity of 2.64%. Viper Energy’s revenue was up 108.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. As a group, research analysts predict that Viper Energy Inc. will post 2.46 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued 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 3.6%. Viper Energy’s dividend payout ratio (DPR) is presently -475.00%.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of research analyst reports. Piper Sandler raised their price target on shares of Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Raymond James Financial upped their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Roth Capital reissued a “buy” rating and issued a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. Zacks Research lowered shares of Viper Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen cut shares of Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.15.

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.