Ninepoint Partners LP Buys Shares of 250,000 Viper Energy Inc. $VNOM

Ninepoint Partners LP purchased a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM) in the 2nd quarter, Holdings Channel reports. The fund purchased 250,000 shares of the oil and gas producer’s stock, valued at approximately $10,600,000. Viper Energy accounts for about 0.8% of Ninepoint Partners LP’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors have also recently made changes to their positions in VNOM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Viper Energy by 38.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock worth $2,162,000 after buying an additional 13,218 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Viper Energy by 264.2% during the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after buying an additional 174,684 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Viper Energy by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock worth $9,233,000 after acquiring an additional 37,847 shares during the period. Prudential Financial Inc. raised its position in Viper Energy by 30.7% in the second quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock worth $487,000 after acquiring an additional 3,005 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Viper Energy by 6.5% during the 2nd quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock worth $878,000 after acquiring an additional 1,405 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Up 2.6%

Shares of VNOM stock opened at $45.03 on Friday. 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. The firm has a market capitalization of $16.17 billion, a PE ratio of 346.41 and a beta of 0.40. The stock has a fifty day simple moving average of $42.99 and a two-hundred day simple moving average of $44.91.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS 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 analysts’ expectations of $643.45 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 127.9% on a year-over-year basis. On average, analysts predict that Viper Energy Inc. will post 2.58 EPS for the current fiscal year.

Viper Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VNOM shares. Zacks Research lowered Viper Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Raymond James Financial set a $57.00 target price on Viper Energy in a research report on Friday, July 31st. TD boosted their price target on Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Finally, Mizuho decreased their price objective on Viper Energy from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Seventeen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.