Viper Energy Inc. $VNOM Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 401,395 shares of the oil and gas producer’s stock after purchasing an additional 41,465 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Viper Energy worth $15,341,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its stake in shares of Viper Energy by 4.3% during the second quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock valued at $260,000 after acquiring an additional 279 shares during the period. GAMMA Investing LLC increased its holdings in Viper Energy by 16.7% in the third quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock worth $90,000 after buying an additional 337 shares during the last quarter. Assetmark Inc. increased its position in Viper Energy by 48.7% during the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 350 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Viper Energy by 9.7% during the second quarter. Parkside Financial Bank & Trust now owns 4,117 shares of the oil and gas producer’s stock valued at $157,000 after purchasing an additional 364 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Viper Energy by 4.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,902 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 376 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports 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 report on Wednesday, January 21st. Wells Fargo & Company increased their price target on shares of Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Piper Sandler reduced their target price on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Finally, Morgan Stanley dropped their price target on Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.71.

Viper Energy Stock Up 1.2%

Shares of NASDAQ VNOM opened at $44.25 on Monday. The stock’s fifty day moving average is $39.56 and its 200 day moving average is $38.44. The stock has a market capitalization of $15.91 billion, a P/E ratio of 18.29, a PEG ratio of 27.96 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $51.47.

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.