Mutual of America Capital Management LLC Boosts Holdings in Viper Energy Inc. $VNOM

Mutual of America Capital Management LLC increased its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,920 shares of the oil and gas producer’s stock after buying an additional 12,732 shares during the period. Mutual of America Capital Management LLC’s holdings in Viper Energy were worth $2,978,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Merewether Investment Management LP acquired a new position in shares of Viper Energy in the second quarter worth $33,973,000. Marshall Wace LLP boosted its holdings in Viper Energy by 199.2% in the second quarter. Marshall Wace LLP now owns 1,142,619 shares of the oil and gas producer’s stock valued at $43,568,000 after purchasing an additional 760,756 shares during the period. Boston Partners grew its stake in Viper Energy by 31.5% during the 2nd quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock worth $85,337,000 after purchasing an additional 537,746 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in Viper Energy during the 2nd quarter worth $20,399,000. Finally, TD Asset Management Inc increased its holdings in Viper Energy by 44.5% during the 2nd quarter. TD Asset Management Inc now owns 1,201,250 shares of the oil and gas producer’s stock worth $45,804,000 after purchasing an additional 370,131 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VNOM. Wall Street Zen cut Viper Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Jefferies Financial Group initiated coverage on shares of Viper Energy in a research note on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler reduced their price objective on shares of 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 lifted their price objective on shares of Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.73.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $42.34 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $52.03. The firm’s 50 day moving average is $38.52 and its two-hundred day moving average is $38.07. The firm has a market capitalization of $15.22 billion, a P/E ratio of 17.50, a P/E/G ratio of 26.56 and a beta of 0.48.

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

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. Viper Energy’s dividend payout ratio (DPR) is presently 54.55%.

Viper Energy Company Profile

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.