Ground Swell Capital LLC Acquires New Position in Viper Energy, Inc. (NASDAQ:VNOM)

Ground Swell Capital LLC purchased a new stake in Viper Energy, Inc. (NASDAQ:VNOM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,521 shares of the oil and gas producer’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VNOM. Vanguard Group Inc. boosted its position in shares of Viper Energy by 1,045.4% during the fourth quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock worth $215,825,000 after buying an additional 6,277,324 shares during the period. Wellington Management Group LLP lifted its position in shares of Viper Energy by 20.0% during the fourth quarter. Wellington Management Group LLP now owns 13,490,896 shares of the oil and gas producer’s stock worth $423,344,000 after purchasing an additional 2,246,219 shares in the last quarter. Scout Investments Inc. purchased a new stake in Viper Energy during the 4th quarter worth approximately $40,808,000. Epoch Investment Partners Inc. lifted its holdings in Viper Energy by 91.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 2,505,280 shares of the oil and gas producer’s stock worth $78,616,000 after buying an additional 1,197,567 shares in the last quarter. Finally, Capital World Investors boosted its position in Viper Energy by 16.8% in the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock valued at $246,566,000 after buying an additional 923,276 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VNOM shares. Truist Financial increased their price objective on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI upped their target price on shares of Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. TD Securities boosted their price target on shares of Viper Energy from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Barclays increased their target price on Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Piper Sandler lifted their price target on Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Viper Energy Trading Down 4.4 %

VNOM stock opened at $44.79 on Wednesday. The business has a fifty day simple moving average of $43.88 and a 200-day simple moving average of $39.84. Viper Energy, Inc. has a 52 week low of $26.73 and a 52 week high of $49.37. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 16.47 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 34.8% compared to the same quarter last year. On average, equities research analysts expect that Viper Energy, Inc. will post 2.1 EPS for the current year.

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. Viper Energy’s dividend payout ratio (DPR) is presently 44.12%.

Viper Energy Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.