CIBC Bancorp USA Inc. Takes Position in Viper Energy Inc. $VNOM

CIBC Bancorp USA Inc. bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 857,845 shares of the oil and gas producer’s stock, valued at approximately $32,787,000. CIBC Bancorp USA Inc. owned 0.24% of Viper Energy as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Advisory Services Network LLC raised its holdings in Viper Energy by 293.5% during the third quarter. Advisory Services Network LLC now owns 52,083 shares of the oil and gas producer’s stock worth $1,991,000 after buying an additional 38,846 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in shares of Viper Energy during the third quarter valued at about $931,000. NewEdge Advisors LLC increased its position in shares of Viper Energy by 2,006.3% during the third quarter. NewEdge Advisors LLC now owns 6,403 shares of the oil and gas producer’s stock worth $245,000 after acquiring an additional 6,099 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Viper Energy during the third quarter worth about $218,000. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Viper Energy by 30.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,801,010 shares of the oil and gas producer’s stock worth $107,055,000 after acquiring an additional 656,333 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VNOM shares. Wall Street Zen upgraded Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Mizuho increased their price objective on Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Barclays dropped their target price on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, January 21st. Finally, Piper Sandler increased their price target on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Fourteen 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.79.

Viper Energy Trading Up 2.0%

Shares of VNOM stock opened at $47.14 on Thursday. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $48.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.72 and a current ratio of 3.72. The company has a 50-day simple moving average of $42.41 and a two-hundred day simple moving average of $39.54. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of -204.95, a PEG ratio of 1.56 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.51 million. During the same quarter last year, the business posted $2.04 EPS. The company’s revenue for the quarter was up 87.6% on a year-over-year basis. Research analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Viper Energy’s previous quarterly dividend of $0.33. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.2%. Viper Energy’s dividend payout ratio (DPR) is -660.87%.

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.