Retirement Systems of Alabama Purchases New Stake in Viper Energy, Inc. (NASDAQ:VNOM)

Retirement Systems of Alabama purchased a new stake in Viper Energy, Inc. (NASDAQ:VNOM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 287,744 shares of the oil and gas producer’s stock, valued at approximately $12,980,000. Retirement Systems of Alabama owned 0.15% of Viper Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp raised its holdings in Viper Energy by 78.2% in the third quarter. State Street Corp now owns 3,833,257 shares of the oil and gas producer’s stock valued at $172,918,000 after buying an additional 1,682,183 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Viper Energy by 12.0% during the second 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 purchasing an additional 224,021 shares during the period. Geode Capital Management LLC raised its stake in shares of Viper Energy by 16.0% during the third quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer’s stock valued at $76,647,000 after purchasing an additional 234,048 shares during the period. Merewether Investment Management LP raised its stake in shares of Viper Energy by 22.9% during the third quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer’s stock valued at $38,822,000 after purchasing an additional 160,600 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Viper Energy by 2.6% during the second quarter. TD Asset Management Inc now owns 841,414 shares of the oil and gas producer’s stock valued at $31,578,000 after purchasing an additional 21,420 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VNOM. Truist Financial lifted their price objective on shares of Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Piper Sandler lifted their price objective on shares of Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price objective on the stock in a research note on Friday. Finally, Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Viper Energy currently has a consensus 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 Monday. The firm has a market cap of $9.64 billion, a PE ratio of 21.97 and a beta of 1.71. The company has a fifty day simple moving average of $52.46 and a 200 day simple moving average of $46.00. 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.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $209.59 million during the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. The firm’s revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, equities research analysts anticipate that Viper Energy, Inc. will post 2.01 EPS for the current fiscal year.

Viper Energy Announces Dividend

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