Spirit of America Management Corp NY Purchases 8,750 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Spirit of America Management Corp NY lifted its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 44.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,450 shares of the oil and gas producer’s stock after acquiring an additional 8,750 shares during the quarter. Spirit of America Management Corp NY’s holdings in Viper Energy were worth $1,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VNOM. Vanguard Group Inc. grew its holdings in shares of Viper Energy by 23.3% during the first quarter. Vanguard Group Inc. now owns 8,481,119 shares of the oil and gas producer’s stock worth $326,184,000 after purchasing an additional 1,603,333 shares during the last quarter. Capital World Investors lifted its position in Viper Energy by 16.8% during the 1st quarter. Capital World Investors now owns 6,410,968 shares of the oil and gas producer’s stock worth $246,566,000 after buying an additional 923,276 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in Viper Energy by 19.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 3,001,411 shares of the oil and gas producer’s stock worth $115,434,000 after acquiring an additional 496,131 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Viper Energy by 12.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer’s stock valued at $78,282,000 after acquiring an additional 224,021 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in shares of Viper Energy by 48.8% in the first quarter. Scout Investments Inc. now owns 1,934,469 shares of the oil and gas producer’s stock worth $73,703,000 after acquiring an additional 634,036 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Trading Up 1.4 %

NASDAQ:VNOM opened at $52.46 on Friday. The business’s 50-day simple moving average is $47.78 and its 200-day simple moving average is $42.31. Viper Energy, Inc. has a fifty-two week low of $27.61 and a fifty-two week high of $52.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The stock has a market capitalization of $9.28 billion, a PE ratio of 17.97 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm had revenue of $216.71 million for the quarter, compared to analyst estimates of $216.28 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was up 34.8% on a year-over-year basis. Sell-side analysts expect that Viper Energy, Inc. will post 1.99 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio (DPR) is presently 41.10%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Roth Mkm increased their price objective on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler boosted their target price on Viper Energy from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. TD Securities upped their price target on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Evercore ISI lifted their price objective on Viper Energy from $37.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Viper Energy Company 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.