Neo Ivy Capital Management Purchases Shares of 58,234 Viper Energy Inc. $VNOM

Neo Ivy Capital Management purchased a new position in Viper Energy Inc. (NASDAQ:VNOM) during the 3rd quarter, Holdings Channel reports. The firm purchased 58,234 shares of the oil and gas producer’s stock, valued at approximately $2,226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VNOM. Ironsides Asset Advisors LLC raised its position in shares of Viper Energy by 3.7% during the third quarter. Ironsides Asset Advisors LLC now owns 7,841 shares of the oil and gas producer’s stock valued at $300,000 after buying an additional 280 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Viper Energy by 30.8% in the third quarter. Aptus Capital Advisors LLC now owns 426,429 shares of the oil and gas producer’s stock valued at $16,298,000 after buying an additional 100,348 shares during the period. Barclays PLC grew its position in Viper Energy by 103.5% during the third quarter. Barclays PLC now owns 149,327 shares of the oil and gas producer’s stock worth $5,707,000 after buying an additional 75,942 shares in the last quarter. Smith Moore & CO. acquired a new stake in Viper Energy during the third quarter worth about $388,000. Finally, NFC Investments LLC bought a new position in Viper Energy during the third quarter valued at about $4,923,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Up 1.0%

Shares of VNOM opened at $44.10 on Friday. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of -191.73 and a beta of 0.48. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $48.00. The company has a 50-day moving average price of $41.32 and a two-hundred day moving average price of $39.20.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $2.04 earnings per share. The company’s quarterly revenue was up 87.6% on a year-over-year basis. Equities analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, March 5th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $1.52 annualized dividend and a yield of 3.4%. This is a positive change from Viper Energy’s previous quarterly dividend of $0.33. Viper Energy’s payout ratio is presently -660.87%.

Analyst Upgrades and Downgrades

Several research firms have commented on VNOM. Piper Sandler cut their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Wall Street Zen raised Viper Energy from a “sell” rating to a “hold” rating in a report on Saturday. TD Securities boosted their price objective on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Barclays cut their target price on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Finally, Citigroup raised their target price on Viper Energy from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.43.

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.