Advisors Asset Management Inc. Increases Stake in Viper Energy Inc. $VNOM

Advisors Asset Management Inc. grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 343.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,679 shares of the oil and gas producer’s stock after purchasing an additional 248,364 shares during the period. Advisors Asset Management Inc. owned about 0.11% of Viper Energy worth $12,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VNOM. State Street Corp lifted its stake in shares of Viper Energy by 2.9% in the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after purchasing an additional 148,503 shares during the period. Geode Capital Management LLC boosted its stake in shares of Viper Energy by 6.6% during the 2nd 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 in the last quarter. Epoch Investment Partners Inc. grew its position in shares of Viper Energy by 12.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,687,541 shares of the oil and gas producer’s stock valued at $102,476,000 after acquiring an additional 296,749 shares during the period. Boston Partners grew its position in shares of Viper Energy by 31.5% during the 2nd quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock valued at $85,337,000 after acquiring an additional 537,746 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of Viper Energy by 6.1% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,711,181 shares of the oil and gas producer’s stock valued at $65,247,000 after purchasing an additional 98,742 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ VNOM opened at $43.22 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s fifty day moving average is $39.34 and its two-hundred day moving average is $38.31. The firm has a market capitalization of $15.54 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 27.52 and a beta of 0.51. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $52.03.

Wall Street Analyst Weigh In

VNOM has been the topic of several research analyst reports. Barclays dropped their price objective on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Piper Sandler cut their target price on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Jefferies Financial Group initiated coverage on shares of Viper Energy in a research report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target for the company. Mizuho lifted their price objective on Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.71.

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.