Wealth Enhancement Advisory Services LLC Invests $510,000 in Viper Energy Inc. $VNOM

Wealth Enhancement Advisory Services LLC purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,300 shares of the oil and gas producer’s stock, valued at approximately $510,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in Viper Energy during the 2nd quarter worth $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Viper Energy in the third quarter valued at about $31,000. Assetmark Inc. grew its stake in shares of Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 350 shares in the last quarter. CoreCap Advisors LLC increased its position in Viper Energy by 503.3% during the third 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 during the period. Finally, First Horizon Advisors Inc. raised its stake in Viper Energy by 82.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 534 shares in the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Stock Performance

NASDAQ VNOM opened at $42.89 on Friday. The firm’s 50 day simple moving average is $39.12 and its 200 day simple moving average is $38.22. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 26.66 and a beta of 0.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $52.03.

Wall Street Analyst Weigh In

A number of analysts have issued reports on VNOM shares. Morgan Stanley cut their price objective on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Barclays reduced their price target on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Wall Street Zen lowered Viper Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, Wells Fargo & Company lifted their price objective on Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.71.

Viper Energy Company Profile

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.