Greenwood Capital Associates LLC Boosts Stock Holdings in Viper Energy Inc. $VNOM

Greenwood Capital Associates LLC grew its position in Viper Energy Inc. (NASDAQ:VNOM) by 175.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,590 shares of the oil and gas producer’s stock after purchasing an additional 15,027 shares during the period. Greenwood Capital Associates LLC’s holdings in Viper Energy were worth $902,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Viper Energy by 2.9% during the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after purchasing an additional 148,503 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Viper Energy by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,802,730 shares of the oil and gas producer’s stock worth $145,021,000 after buying an additional 235,374 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Viper Energy by 12.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,687,541 shares of the oil and gas producer’s stock worth $102,476,000 after buying an additional 296,749 shares during the last quarter. Boston Partners grew its holdings in shares of Viper Energy by 31.5% in the second quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock valued at $85,337,000 after acquiring an additional 537,746 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in shares of Viper Energy by 37.4% in the first quarter. Woodline Partners LP now owns 1,980,786 shares of the oil and gas producer’s stock valued at $89,432,000 after acquiring an additional 539,517 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VNOM shares. Jefferies Financial Group began coverage on Viper Energy in a report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target on the stock. Barclays lifted their target price on Viper Energy from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. KeyCorp cut their price target on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Piper Sandler decreased their price objective on shares of Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Finally, Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.20.

Viper Energy Stock Down 0.8%

VNOM stock opened at $38.11 on Friday. The stock has a fifty day moving average of $37.89 and a 200-day moving average of $38.19. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $52.10. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 17.76 and a beta of 0.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $418.00 million for the quarter, compared to analysts’ expectations of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The firm’s quarterly revenue was up 98.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. As a group, equities research analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 3.5%. Viper Energy’s payout ratio is 54.55%.

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.