Merewether Investment Management LP Grows Position in Viper Energy, Inc. (NASDAQ:VNOM)

Merewether Investment Management LP grew its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 860,600 shares of the oil and gas producer’s stock after purchasing an additional 160,600 shares during the period. Viper Energy makes up about 1.8% of Merewether Investment Management LP’s holdings, making the stock its 21st largest position. Merewether Investment Management LP owned about 0.49% of Viper Energy worth $38,822,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake 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 buying an additional 224,021 shares in the last quarter. TD Asset Management Inc raised its stake in Viper Energy by 2.6% in the 2nd 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 last quarter. SIR Capital Management L.P. lifted its holdings in Viper Energy by 26.5% in the 2nd quarter. SIR Capital Management L.P. now owns 776,800 shares of the oil and gas producer’s stock valued at $29,153,000 after purchasing an additional 162,900 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer’s stock worth $28,554,000 after buying an additional 582,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Viper Energy by 11.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 625,261 shares of the oil and gas producer’s stock valued at $28,206,000 after buying an additional 66,222 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VNOM. JPMorgan Chase & Co. boosted their price target on Viper Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Bank of America started coverage on shares of Viper Energy in a research report on Tuesday, November 26th. They issued a “buy” rating and a $64.00 target price on the stock. Roth Mkm lifted their price target on shares of Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group started coverage on Viper Energy in a research report on Monday. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Piper Sandler boosted their price target on Viper Energy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat, Viper Energy presently has an average rating of “Moderate Buy” and a consensus target price of $57.20.

Viper Energy Stock Up 0.2 %

VNOM stock opened at $54.37 on Wednesday. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $51.72 and a 200-day simple moving average of $45.25. The company has a market capitalization of $10.24 billion, a P/E ratio of 23.33 and a beta of 1.71. Viper Energy, Inc. has a twelve month low of $29.03 and a twelve 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million during 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 business’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. On average, equities research analysts predict that Viper Energy, Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. Viper Energy’s dividend payout ratio is presently 51.50%.

Viper Energy 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.