State Street Corp Grows Position in Viper Energy, Inc. (NASDAQ:VNOM)

State Street Corp boosted its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 78.2% in the 3rd quarter, HoldingsChannel reports. The fund 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’s holdings in Viper Energy were worth $172,918,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Naples Global Advisors LLC grew its holdings in Viper Energy by 12.5% in the second quarter. Naples Global Advisors LLC now owns 7,190 shares of the oil and gas producer’s stock valued at $270,000 after purchasing an additional 800 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Viper Energy in the second quarter valued at $221,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viper Energy by 72.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,303 shares of the oil and gas producer’s stock valued at $762,000 after purchasing an additional 8,497 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Viper Energy in the second quarter valued at $5,856,000. Finally, Principal Financial Group Inc. acquired a new stake in Viper Energy in the second quarter valued at $268,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VNOM shares. Bank of America initiated coverage on Viper Energy in a report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price on the stock. StockNews.com lowered Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. 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 note on Wednesday, October 16th. Piper Sandler increased 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, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.27.

Viper Energy Stock Down 0.1 %

Shares of NASDAQ:VNOM opened at $51.19 on Friday. The stock’s 50-day moving average price is $52.44 and its two-hundred day moving average price is $45.80. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 12-month low of $30.16 and a 12-month high of $56.76. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 21.97 and a beta of 1.71.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS. On average, research analysts forecast that Viper Energy, Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

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

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.