Beacon Pointe Advisors LLC Buys Shares of 15,955 Viper Energy Inc. $VNOM

Beacon Pointe Advisors LLC bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,955 shares of the oil and gas producer’s stock, valued at approximately $608,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Viper Energy by 28.9% during the 1st quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer’s stock worth $587,708,000 after purchasing an additional 2,921,832 shares in the last quarter. Wellington Management Group LLP grew its holdings in Viper Energy by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer’s stock valued at $539,719,000 after buying an additional 1,301,933 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Viper Energy by 21.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer’s stock worth $451,336,000 after buying an additional 1,778,093 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Viper Energy by 6.6% in the second quarter. Geode Capital Management LLC now owns 3,802,730 shares of the oil and gas producer’s stock worth $145,021,000 after acquiring an additional 235,374 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Viper Energy by 19.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,751,660 shares of the oil and gas producer’s stock worth $124,238,000 after acquiring an additional 442,235 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Up 1.6%

Shares of NASDAQ:VNOM opened at $40.65 on Monday. The stock has a 50-day simple moving average of $37.42 and a 200-day simple moving average of $38.30. The stock has a market capitalization of $14.61 billion, a P/E ratio of 16.80, a PEG ratio of 18.56 and a beta of 0.48. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $52.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.15 and a current ratio of 1.88.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same quarter last year, the firm posted $0.49 earnings per share. Viper Energy’s revenue for the quarter was up 98.1% compared to the same quarter last year. Equities analysts forecast that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, November 13th. Viper Energy’s dividend payout ratio is 54.55%.

Wall Street Analyst Weigh In

VNOM has been the subject of a number of recent research reports. Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Wells Fargo & Company raised their price target on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Barclays boosted their price objective on shares of Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. William Blair started coverage on shares of Viper Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Piper Sandler cut their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Fourteen 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 has an average rating of “Moderate Buy” and a consensus target price of $54.13.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.