Cannon Global Investment Management LLC Purchases Shares of 20,100 Viper Energy, Inc. (NASDAQ:VNOM)

Cannon Global Investment Management LLC acquired a new position in Viper Energy, Inc. (NASDAQ:VNOM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,100 shares of the oil and gas producer’s stock, valued at approximately $631,000. Viper Energy comprises 4.7% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds also recently modified their holdings of the stock. Barclays PLC bought a new position in shares of Viper Energy during the 1st quarter worth approximately $31,000. State of Wyoming purchased a new stake in shares of Viper Energy during the 4th quarter valued at $57,000. Chilton Capital Management LLC purchased a new stake in shares of Viper Energy during the 4th quarter valued at $63,000. International Assets Investment Management LLC purchased a new position in shares of Viper Energy in the 3rd quarter worth about $57,000. Finally, ORG Partners LLC increased its holdings in Viper Energy by 26.7% during the fourth quarter. ORG Partners LLC now owns 3,230 shares of the oil and gas producer’s stock worth $101,000 after buying an additional 680 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on VNOM shares. Barclays began coverage on shares of Viper Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $44.00 target price on the stock. Truist Financial increased their price objective on Viper Energy from $47.00 to $52.00 and gave the company a “buy” rating in a report on Friday, April 5th. StockNews.com lowered Viper Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Piper Sandler lowered their price target on shares of Viper Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Raymond James cut their price objective on shares of Viper Energy from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.50.

Viper Energy Price Performance

VNOM stock traded up $0.32 during midday trading on Friday, reaching $39.24. The company had a trading volume of 73,363 shares, compared to its average volume of 965,403. The firm has a 50-day moving average price of $36.93 and a 200-day moving average price of $32.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.32 and a quick ratio of 4.32. The company has a market capitalization of $6.94 billion, a P/E ratio of 14.41 and a beta of 1.79. Viper Energy, Inc. has a 1 year low of $24.48 and a 1 year high of $41.22.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.20. Viper Energy had a net margin of 24.17% and a return on equity of 8.29%. The firm had revenue of $204.70 million during the quarter, compared to analyst estimates of $204.61 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, research analysts anticipate that Viper Energy, Inc. will post 1.72 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a $0.56 dividend. The ex-dividend date was Monday, March 4th. This represents a yield of 3%. This is a boost from Viper Energy’s previous None dividend of $0.09. Viper Energy’s payout ratio is 40.00%.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.