Retirement Systems of Alabama Has $17.83 Million Position in Viper Energy Inc. $VNOM

Retirement Systems of Alabama lifted its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,545 shares of the oil and gas producer’s stock after acquiring an additional 35,354 shares during the period. Retirement Systems of Alabama’s holdings in Viper Energy were worth $17,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VNOM. ORG Partners LLC raised its position in Viper Energy by 1,070.9% during the fourth quarter. ORG Partners LLC now owns 22,282 shares of the oil and gas producer’s stock valued at $861,000 after purchasing an additional 20,379 shares in the last quarter. ORG Wealth Partners LLC increased its stake in shares of Viper Energy by 230.4% in the 4th quarter. ORG Wealth Partners LLC now owns 6,681 shares of the oil and gas producer’s stock valued at $258,000 after purchasing an additional 4,659 shares during the last quarter. Canoe Financial LP bought a new position in shares of Viper Energy in the 4th quarter valued at $966,000. SG Americas Securities LLC raised its holdings in shares of Viper Energy by 2,117.1% during the 4th quarter. SG Americas Securities LLC now owns 576,294 shares of the oil and gas producer’s stock worth $22,262,000 after buying an additional 550,301 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Viper Energy by 502.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 690,756 shares of the oil and gas producer’s stock worth $26,684,000 after buying an additional 576,151 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Trading Down 3.4%

NASDAQ VNOM opened at $45.40 on Thursday. The company has a market cap of $16.23 billion, a price-to-earnings ratio of -197.38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.50. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $49.08. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $44.42 and its 200 day moving average is $40.14.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The business had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.51 million. During the same quarter in the prior year, the firm earned $2.04 EPS. The business’s revenue for the quarter was up 87.6% compared to the same quarter last year. As a group, sell-side analysts expect that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were issued a $0.38 dividend. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.3%. Viper Energy’s dividend payout ratio (DPR) is -660.87%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Viper Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Mizuho increased their target price on shares of Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. TD Securities raised their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley lifted their price target on shares of Viper Energy from $44.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

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.