Readystate Asset Management LP Makes New $7.35 Million Investment in Viper Energy Inc. $VNOM

Readystate Asset Management LP purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 173,270 shares of the oil and gas producer’s stock, valued at approximately $7,347,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VNOM. Los Angeles Capital Management LLC bought a new stake in Viper Energy during the fourth quarter valued at approximately $27,000. Parallel Advisors LLC increased its holdings in shares of Viper Energy by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 568 shares during the last quarter. UMB Bank n.a. bought a new position in shares of Viper Energy in the 4th quarter worth $64,000. Clearstead Advisors LLC raised its position in shares of Viper Energy by 50.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock valued at $75,000 after buying an additional 654 shares in the last quarter. Finally, Strive Financial Group LLC bought a new stake in shares of Viper Energy during the 4th quarter worth $97,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $44.39 on Monday. The stock has a market cap of $15.94 billion, a PE ratio of 341.49 and a beta of 0.39. The company’s fifty day moving average is $43.27 and its 200 day moving average is $45.04. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The business had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 127.9% on a year-over-year basis. Research analysts anticipate that Viper Energy Inc. will post 2.73 earnings per share for the current year.

Viper Energy Dividend Announcement

The business also recently announced a special dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, August 13th. This represents a yield of 281.0%. Viper Energy’s dividend payout ratio is currently 1,169.23%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VNOM shares. Mizuho cut their target price on shares of Viper Energy from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Wells Fargo & Company upped their price objective on Viper Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Roth Capital reiterated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Finally, Johnson Rice assumed coverage on Viper Energy in a report on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price objective on the stock. Sixteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $56.93.

Viper Energy 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.