Viper Energy Inc. $VNOM Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 42,842,150.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 856,845 shares of the oil and gas producer’s stock after acquiring an additional 856,843 shares during the period. CIBC Private Wealth Group LLC owned 0.24% of Viper Energy worth $32,749,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Oaktree Capital Management LP acquired a new position in Viper Energy in the third quarter valued at approximately $240,215,000. Vanguard Group Inc. raised its holdings in Viper Energy by 28.0% during the third quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock worth $646,180,000 after purchasing an additional 3,699,141 shares in the last quarter. Capital World Investors lifted its position in shares of Viper Energy by 18.7% during the 3rd quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock worth $474,821,000 after buying an additional 1,957,417 shares during the last quarter. HITE Hedge Asset Management LLC boosted its holdings in shares of Viper Energy by 452.4% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer’s stock valued at $63,521,000 after buying an additional 1,361,130 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Viper Energy by 7,413.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock valued at $42,417,000 after buying an additional 1,095,052 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $47.32 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of -205.73, a price-to-earnings-growth ratio of 1.59 and a beta of 0.48. The firm’s fifty day moving average price is $42.63 and its 200 day moving average price is $39.59. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $48.00.

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

Viper Energy Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Citigroup raised their price objective on Viper Energy from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Piper Sandler boosted their target price on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Mizuho upped their target price on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Viper Energy has a consensus rating of “Moderate Buy” and a consensus target price of $51.79.

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.