23,500 Shares in Viper Energy Inc. $VNOM Purchased by Magnolia Group LLC

Magnolia Group LLC purchased a new position in Viper Energy Inc. (NASDAQ:VNOM) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 23,500 shares of the oil and gas producer’s stock, valued at approximately $937,000. Viper Energy makes up about 0.3% of Magnolia Group LLC’s portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Viper Energy by 1,250.0% in the second quarter. IFP Advisors Inc now owns 945 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 875 shares during the period. Integrated Wealth Concepts LLC bought a new position in Viper Energy during the 2nd quarter worth about $56,000. Parallel Advisors LLC increased its holdings in Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 322 shares during the period. Covestor Ltd raised its position in shares of Viper Energy by 35.9% in the 3rd quarter. Covestor Ltd now owns 1,852 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 489 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Viper Energy by 20.0% in the second quarter. Versant Capital Management Inc now owns 2,481 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 413 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Up 2.3%

Viper Energy stock opened at $41.13 on Thursday. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 30.02 and a beta of 0.49. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The business’s 50-day moving average price is $43.35 and its 200 day moving average price is $44.43. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 0.23.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. Viper Energy had a return on equity of 4.24% and a net margin of 12.08%. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $625.18 million. During the same period last year, the business earned $0.40 earnings per share. Viper Energy’s quarterly revenue was up 58.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Viper Energy Inc. will post 2.92 earnings per share for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 12th. Viper Energy’s payout ratio is 110.95%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VNOM shares. Wall Street Zen downgraded shares of Viper Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Morgan Stanley raised their price objective on Viper Energy from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Barclays dropped their target price on Viper Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Royal Bank Of Canada upped their target price on Viper Energy from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Viper Energy in a research report on Tuesday, August 4th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.41.

Viper Energy Profile

Viper Energy, Inc. owns and acquires mineral and royalty interests in oil and natural gas properties. Rather than serving primarily as a drilling operator, the company earns revenue from production on acreage where other companies conduct exploration and development. Its interests are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s business is tied to activity by the operators that develop the underlying properties.