Viper Energy Inc. $VNOM Shares Bought by Amalgamated Bank

Amalgamated Bank grew its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 29.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,029 shares of the oil and gas producer’s stock after buying an additional 17,298 shares during the period. Amalgamated Bank’s holdings in Viper Energy were worth $2,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of VNOM. Massachusetts Financial Services Co. MA grew its stake in Viper Energy by 8.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,390,241 shares of the oil and gas producer’s stock valued at $53,135,000 after acquiring an additional 112,025 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Viper Energy by 18.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 7,549 shares of the oil and gas producer’s stock worth $289,000 after purchasing an additional 1,171 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of Viper Energy by 21.2% in the third quarter. Evergreen Capital Management LLC now owns 79,160 shares of the oil and gas producer’s stock valued at $3,025,000 after purchasing an additional 13,827 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Viper Energy by 6.5% in the third quarter. Nations Financial Group Inc. IA ADV now owns 22,370 shares of the oil and gas producer’s stock valued at $855,000 after purchasing an additional 1,370 shares in the last quarter. Finally, WoodTrust Financial Corp acquired a new stake in shares of Viper Energy in the third quarter valued at approximately $283,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Up 0.4%

Shares of NASDAQ VNOM opened at $39.28 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $38.01 and its two-hundred day moving average is $37.93. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $52.03. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 23.98 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $418.00 million during the quarter, compared to analysts’ expectations of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The company’s revenue was up 98.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Research analysts predict that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, November 13th. Viper Energy’s payout ratio is currently 54.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VNOM shares. Barclays lowered their price objective on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wall Street Zen cut shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. TD Securities set a $54.00 price objective on shares of Viper Energy in a report on Tuesday, September 30th. Morgan Stanley reduced their target price on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

About Viper Energy

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.