California Public Employees Retirement System Sells 38,891 Shares of Viper Energy Inc. $VNOM

California Public Employees Retirement System cut its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,251 shares of the oil and gas producer’s stock after selling 38,891 shares during the quarter. California Public Employees Retirement System owned about 0.07% of Viper Energy worth $11,101,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Viper Energy in the 4th quarter valued at $1,543,000. Taylor Frigon Capital Management LLC bought a new position in Viper Energy during the fourth quarter valued at about $1,637,000. K.J. Harrison & Partners Inc bought a new position in Viper Energy during the fourth quarter valued at about $1,777,000. Oak Thistle LLC acquired a new stake in shares of Viper Energy in the fourth quarter worth about $1,332,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Viper Energy in the fourth quarter worth about $4,493,000. 87.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VNOM. Wells Fargo & Company increased their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Truist Financial reduced their target price on Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, July 20th. Royal Bank Of Canada initiated coverage on Viper Energy in a research report on Friday, May 29th. They set an “outperform” rating and a $58.00 target price for the company. Raymond James Financial increased their price target on Viper Energy from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research report on Friday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and an average price target of $57.57.

Viper Energy Price Performance

VNOM stock opened at $45.14 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a 50-day moving average of $44.29 and a two-hundred day moving average of $44.28. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of -141.06 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 2.64% and a negative net margin of 2.77%.The firm’s revenue was up 108.6% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. As a group, equities research analysts anticipate that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Dividend Announcement

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

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.