19,120 Shares in Viper Energy Inc. $VNOM Bought by Pasadena Private Wealth LLC

Pasadena Private Wealth LLC acquired a new stake in Viper Energy Inc. (NASDAQ:VNOM) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 19,120 shares of the oil and gas producer’s stock, valued at approximately $731,000.

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

Viper Energy Trading Up 0.7%

Viper Energy stock opened at $36.54 on Friday. 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 Inc. has a 1 year low of $34.71 and a 1 year high of $52.03. The firm’s 50-day moving average is $37.96 and its 200-day moving average is $37.97. The company has a market cap of $13.14 billion, a P/E ratio of 15.10, a PEG ratio of 21.69 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, topping analysts’ consensus estimates of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million for the quarter, compared to analysts’ expectations of $389.35 million. During the same quarter last year, the company posted $0.49 earnings per share. Viper Energy’s revenue was up 98.1% on a year-over-year basis. On average, equities analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued 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 3.6%. Viper Energy’s dividend payout ratio (DPR) is 54.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VNOM shares. Morgan Stanley decreased their target price on Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Piper Sandler decreased 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. Mizuho increased their price objective on shares of Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group started coverage on shares of Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and a consensus target price of $54.20.

Viper Energy 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.