Heartland Advisors Inc. Buys 100,000 Shares of Viper Energy Inc. $VNOM

Heartland Advisors Inc. lifted its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 40.0% during the third quarter, HoldingsChannel.com reports. The firm owned 350,000 shares of the oil and gas producer’s stock after purchasing an additional 100,000 shares during the quarter. Heartland Advisors Inc.’s holdings in Viper Energy were worth $13,377,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Viper Energy by 28.0% in the 3rd quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock worth $646,180,000 after purchasing an additional 3,699,141 shares during the period. State Street Corp lifted its stake in Viper Energy by 2.9% in the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock worth $198,182,000 after purchasing an additional 148,503 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Viper Energy by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,802,730 shares of the oil and gas producer’s stock valued at $145,021,000 after purchasing an additional 235,374 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Viper Energy by 12.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,687,541 shares of the oil and gas producer’s stock valued at $102,476,000 after purchasing an additional 296,749 shares in the last quarter. Finally, Boston Partners raised its position in shares of Viper Energy by 31.5% in the second quarter. Boston Partners now owns 2,243,136 shares of the oil and gas producer’s stock worth $85,337,000 after buying an additional 537,746 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Analysts Set New Price Targets

VNOM has been the subject of several recent analyst reports. Mizuho boosted their target price on Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, January 21st. Morgan Stanley lowered their target price on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Jefferies Financial Group initiated coverage on shares of Viper Energy in a report on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.71.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $44.25 on Tuesday. The business has a fifty day simple moving average of $39.65 and a two-hundred day simple moving average of $38.48. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $51.47. The firm has a market capitalization of $15.91 billion, a P/E ratio of 18.29, a P/E/G ratio of 27.96 and a beta of 0.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20.

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.