Teachers Retirement System of The State of Kentucky Has $2 Million Stock Position in Viper Energy Inc. $VNOM

Teachers Retirement System of The State of Kentucky lifted its stake in Viper Energy Inc. (NASDAQ:VNOM) by 31.9% during the 4th quarter, Holdings Channel reports. The firm owned 51,650 shares of the oil and gas producer’s stock after acquiring an additional 12,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Viper Energy were worth $1,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its holdings in Viper Energy by 9.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 30,919 shares of the oil and gas producer’s stock worth $1,194,000 after acquiring an additional 2,547 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Viper Energy by 5.3% in the fourth quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock valued at $245,000 after acquiring an additional 317 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Viper Energy in the fourth quarter valued at about $291,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Viper Energy by 6.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 112,930 shares of the oil and gas producer’s stock valued at $4,362,000 after acquiring an additional 6,949 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Viper Energy in the fourth quarter valued at about $3,675,000. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

Viper Energy stock opened at $47.84 on Wednesday. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $49.08. The stock’s 50 day moving average is $46.06 and its 200-day moving average is $41.25. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of -207.99, a PEG ratio of 1.00 and a beta of 0.50.

Viper Energy (NASDAQ:VNOM) last posted its earnings results 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 positive return on equity of 2.62% and a negative net margin of 4.87%.The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.51 million. During the same quarter in the prior year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 87.6% on a year-over-year basis. Equities research analysts expect that Viper Energy Inc. will post 2.33 EPS for the current year.

Viper Energy Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on VNOM. Piper Sandler boosted their price target on Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research report on Monday, April 20th. Mizuho boosted their price target on Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Wells Fargo & Company reissued an “overweight” rating and set a $60.00 price target on shares of Viper Energy in a research report on Monday, April 20th. Finally, Morgan Stanley boosted their price target on Viper Energy from $44.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Buy” and an average target price of $55.00.

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.