Bank of New York Mellon Corp Has $57.48 Million Position in Viper Energy Inc. $VNOM

Bank of New York Mellon Corp grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,223,344 shares of the oil and gas producer’s stock after acquiring an additional 145,221 shares during the quarter. Bank of New York Mellon Corp owned 0.34% of Viper Energy worth $57,485,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VNOM. Encompass Capital Advisors LLC bought a new stake in shares of Viper Energy in the 4th quarter valued at $52,087,000. Wellington Management Group LLP grew its stake in Viper Energy by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock valued at $443,918,000 after acquiring an additional 1,144,863 shares during the period. GW&K Investment Management LLC bought a new stake in shares of Viper Energy in the fourth quarter worth about $42,550,000. Balyasny Asset Management L.P. increased its holdings in shares of Viper Energy by 7,413.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock worth $42,417,000 after acquiring an additional 1,095,052 shares in the last quarter. Finally, Ninepoint Partners LP raised its position in shares of Viper Energy by 700.0% during the fourth quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer’s stock worth $46,356,000 after purchasing an additional 1,050,000 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Trading Down 0.3%

NASDAQ:VNOM opened at $45.14 on Friday. The company has a market cap of $16.21 billion, a P/E ratio of -141.06 and a beta of 0.40. Viper Energy Inc. has a twelve month low of $35.10 and a twelve month high of $51.13. The business has a 50 day moving average price of $44.36 and a two-hundred day moving average price of $44.27. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm’s revenue was up 108.6% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, analysts expect that Viper Energy Inc. will post 2.42 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. Viper Energy’s payout ratio is presently -475.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VNOM shares. Wall Street Zen lowered Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Truist Financial cut their price target on shares of Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company upped their price target on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, April 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and an average price target of $57.57.

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.