Titleist Asset Management LLC Grows Stock Position in Viper Energy Inc. $VNOM

Titleist Asset Management LLC grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 958.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,426 shares of the oil and gas producer’s stock after buying an additional 202,326 shares during the quarter. Titleist Asset Management LLC owned 0.08% of Viper Energy worth $8,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new position in Viper Energy in the second quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Viper Energy during the 3rd quarter valued at approximately $31,000. Assetmark Inc. increased its holdings in shares of Viper Energy by 48.7% during the 2nd 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 boosted its holdings 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 worth $42,000 after buying an additional 906 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Viper Energy by 82.5% during the second 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. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Up 1.7%

Shares of Viper Energy stock opened at $42.59 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $52.03. The firm has a market capitalization of $15.31 billion, a PE ratio of 17.60, a P/E/G ratio of 26.57 and a beta of 0.51. The firm’s 50-day moving average price is $38.87 and its 200 day moving average price is $38.16.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VNOM shares. Jefferies Financial Group assumed coverage on shares of Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price objective for the company. Wells Fargo & Company lifted their price target on Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Barclays reduced their price target on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Piper Sandler dropped their price objective 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, Mizuho boosted their price objective on Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.71.

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.