Viper Energy Inc. $VNOM Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 24.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 795,347 shares of the oil and gas producer’s stock after purchasing an additional 154,032 shares during the period. Bank of America Corp DE’s holdings in Viper Energy were worth $37,373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VNOM. Stephens Inc. AR boosted its position in shares of Viper Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer’s stock worth $645,000 after purchasing an additional 245 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Viper Energy by 1.2% during the 1st quarter. Kestra Advisory Services LLC now owns 21,849 shares of the oil and gas producer’s stock worth $1,027,000 after purchasing an additional 268 shares during the last quarter. HB Wealth Management LLC grew its stake in Viper Energy by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 317 shares during the period. Parallel Advisors LLC lifted its position in Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 322 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in Viper Energy by 1.8% in the first quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer’s stock valued at $988,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

VNOM has been the topic of a number of research reports. Morgan Stanley cut their price objective on Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Johnson Rice assumed coverage on Viper Energy in a research note on Monday, August 3rd. They set an “accumulate” rating and a $55.00 target price for the company. Wall Street Zen lowered shares of Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Truist Financial cut their price objective on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, TD lifted their price target on shares of Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Viper Energy Stock Up 2.5%

Shares of NASDAQ:VNOM opened at $42.29 on Friday. The firm has a 50 day simple moving average of $43.08 and a 200 day simple moving average of $44.81. The company has a market cap of $15.18 billion, a PE ratio of 325.33 and a beta of 0.40. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. Viper Energy’s revenue for the quarter was up 127.9% compared to the same quarter last year. As a group, research analysts expect that Viper Energy Inc. will post 2.54 earnings per share for the current year.

Viper Energy Announces Dividend

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

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.