Geode Capital Management LLC Has $192.67 Million Stock Holdings in Viper Energy Inc. $VNOM

Geode Capital Management LLC boosted its position in Viper Energy Inc. (NASDAQ:VNOM) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,986,716 shares of the oil and gas producer’s stock after buying an additional 258,082 shares during the quarter. Geode Capital Management LLC’s holdings in Viper Energy were worth $192,672,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mountain Lake Investment Management LLC acquired a new stake in Viper Energy in the 3rd quarter valued at approximately $9,853,000. Principal Financial Group Inc. raised its position in Viper Energy by 26.1% in the 3rd quarter. Principal Financial Group Inc. now owns 374,739 shares of the oil and gas producer’s stock valued at $14,323,000 after buying an additional 77,519 shares during the last quarter. Citigroup Inc. raised its position in Viper Energy by 58.7% in the 3rd quarter. Citigroup Inc. now owns 198,093 shares of the oil and gas producer’s stock valued at $7,571,000 after buying an additional 73,303 shares during the last quarter. Bornite Capital Management LP acquired a new stake in Viper Energy in the 3rd quarter valued at approximately $38,220,000. Finally, Titleist Asset Management LLC raised its position in Viper Energy by 958.9% in the 3rd quarter. Titleist Asset Management LLC now owns 223,426 shares of the oil and gas producer’s stock valued at $8,539,000 after buying an additional 202,326 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Up 1.9%

VNOM stock opened at $46.88 on Thursday. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $46.99 and a two-hundred day moving average price of $42.97. The company has a market cap of $16.83 billion, a price-to-earnings ratio of -146.50 and a beta of 0.38. Viper Energy Inc. has a twelve month low of $35.10 and a twelve month high of $51.13.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.82 million. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business’s revenue was up 108.6% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Analysts anticipate that Viper Energy Inc. will post 2.59 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, May 14th. Viper Energy’s payout ratio is currently -475.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Viper Energy from $44.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Royal Bank Of Canada initiated coverage on Viper Energy in a research note on Friday, May 29th. They issued an “outperform” rating and a $58.00 price target for the company. Wells Fargo & Company raised their price target on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Piper Sandler raised their price target on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Jefferies Financial Group upgraded Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $58.38.

Viper Energy Company 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.