State Street Corp Increases Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

State Street Corp boosted its position in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 78.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,833,257 shares of the oil and gas producer’s stock after acquiring an additional 1,682,183 shares during the quarter. State Street Corp owned 2.17% of Viper Energy worth $172,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC boosted its stake in shares of Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 460 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Viper Energy in the 2nd quarter valued at about $36,000. Plato Investment Management Ltd boosted its stake in shares of Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 1,541 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Viper Energy in the 3rd quarter valued at about $144,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on VNOM. JPMorgan Chase & Co. lifted their price objective on Viper Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. TD Securities lifted their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group began coverage on Viper Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Piper Sandler lifted their price objective on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Truist Financial boosted their target price on Viper Energy from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.27.

Viper Energy Price Performance

Viper Energy stock opened at $51.19 on Friday. Viper Energy, Inc. has a 12 month low of $30.16 and a 12 month high of $56.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business has a 50 day simple moving average of $52.44 and a 200-day simple moving average of $45.80. The stock has a market capitalization of $9.64 billion, a PE ratio of 21.97 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The business had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s quarterly revenue was down 28.5% compared to the same quarter last year. Equities analysts predict that Viper Energy, Inc. will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. Viper Energy’s dividend payout ratio (DPR) is presently 51.50%.

About Viper Energy

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.