AlphaQuest LLC Invests $529,000 in Viper Energy Inc. $VNOM

AlphaQuest LLC purchased a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,829 shares of the oil and gas producer’s stock, valued at approximately $529,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Viper Energy by 2.9% in the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after acquiring an additional 148,503 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Viper Energy by 6.6% in the second quarter. Geode Capital Management LLC now owns 3,802,730 shares of the oil and gas producer’s stock valued at $145,021,000 after purchasing an additional 235,374 shares in the last quarter. Epoch Investment Partners Inc. raised its position in Viper Energy by 12.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,687,541 shares of the oil and gas producer’s stock worth $102,476,000 after purchasing an additional 296,749 shares during the last quarter. Boston Partners raised its position in Viper Energy by 31.5% in the 2nd quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock worth $85,337,000 after purchasing an additional 537,746 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in Viper Energy by 6.1% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 1,711,181 shares of the oil and gas producer’s stock worth $65,247,000 after buying an additional 98,742 shares in the last quarter. Institutional investors own 87.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on 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 lowered their price objective on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Mizuho boosted 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. Wall Street Zen downgraded shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Barclays lowered their price target on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $52.71.

Viper Energy Price Performance

Viper Energy stock opened at $42.19 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $15.17 billion, a P/E ratio of 17.43, a PEG ratio of 26.91 and a beta of 0.51. The business has a 50-day moving average of $38.99 and a 200-day moving average of $38.19. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $52.03.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The business had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same quarter last year, the firm earned $0.49 EPS. Viper Energy’s quarterly revenue was up 98.1% compared to the same quarter last year. On average, equities analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current year.

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.