Spirit of America Management Corp NY Has $1.50 Million Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

Spirit of America Management Corp NY grew its stake in Viper Energy, Inc. (NASDAQ:VNOM) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,600 shares of the oil and gas producer’s stock after buying an additional 2,150 shares during the period. Spirit of America Management Corp NY’s holdings in Viper Energy were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VNOM. Farther Finance Advisors LLC grew its stake in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC lifted its holdings in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 460 shares during the period. National Bank of Canada FI lifted its holdings in Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after acquiring an additional 1,165 shares during the period. Versant Capital Management Inc bought a new stake in Viper Energy during the fourth quarter worth $94,000. Finally, Geneos Wealth Management Inc. bought a new stake in Viper Energy during the fourth quarter worth $110,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of NASDAQ VNOM opened at $48.70 on Wednesday. The firm has a market capitalization of $9.18 billion, a P/E ratio of 20.90 and a beta of 1.71. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $50.04 and its two-hundred day simple moving average is $48.78. Viper Energy, Inc. has a twelve month low of $30.56 and a twelve month high of $56.76.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million for the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The company’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 EPS. As a group, equities analysts anticipate that Viper Energy, Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from Viper Energy’s previous dividend of $0.22. Viper Energy’s dividend payout ratio is 51.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Viper Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $70.00 price target on the stock. Raymond James reaffirmed an “outperform” rating and set a $58.00 price target (down previously from $64.00) on shares of Viper Energy in a research report on Tuesday. Piper Sandler dropped their price target on Viper Energy from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Barclays upped their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Bank of America initiated coverage on Viper Energy in a research note on Tuesday, November 26th. They set a “buy” rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.