Viper Energy Inc. $VNOM Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,390,241 shares of the oil and gas producer’s stock after purchasing an additional 112,025 shares during the period. Massachusetts Financial Services Co. MA owned about 0.48% of Viper Energy worth $53,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in Viper Energy during the second quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Viper Energy in the third quarter worth about $31,000. Assetmark Inc. boosted its stake in shares of Viper Energy by 48.7% during the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 350 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of Viper Energy by 503.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 906 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Viper Energy by 82.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 534 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Price Performance

Shares of Viper Energy stock opened at $39.13 on Thursday. The stock has a market capitalization of $14.07 billion, a P/E ratio of 16.17, a PEG ratio of 22.84 and a beta of 0.48. The business has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $37.92. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $52.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue was up 98.1% on a year-over-year basis. As a group, analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. Viper Energy’s dividend payout ratio is presently 54.55%.

Analysts Set New Price Targets

VNOM has been the subject of a number of analyst reports. Mizuho upped their price target on Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Morgan Stanley cut their price objective on Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Piper Sandler reduced their target price on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Wells Fargo & Company lifted their price target on shares of Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.