Rhumbline Advisers Raises Holdings in Viper Energy Inc. $VNOM

Rhumbline Advisers increased its position in Viper Energy Inc. (NASDAQ:VNOM) by 26.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,580 shares of the oil and gas producer’s stock after buying an additional 88,128 shares during the period. Rhumbline Advisers owned 0.15% of Viper Energy worth $16,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in shares of Viper Energy during the 2nd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in Viper Energy in the third quarter worth $31,000. Assetmark Inc. raised its stake 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 valued at $41,000 after purchasing an additional 350 shares in the last quarter. CoreCap Advisors LLC lifted its position in Viper Energy by 503.3% during the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 906 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Viper Energy by 82.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 534 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays decreased their target price on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Mizuho raised their price objective on Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Piper Sandler decreased their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.71.

Viper Energy Stock Up 1.4%

NASDAQ:VNOM opened at $44.61 on Thursday. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 27.81 and a beta of 0.51. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $51.47. 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 stock has a fifty day simple moving average of $39.80 and a 200-day simple moving average of $38.58.

About Viper Energy

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.