Recurrent Investment Advisors LLC Has $46.49 Million Stock Position in Viper Energy Inc. $VNOM

Recurrent Investment Advisors LLC lifted its position in Viper Energy Inc. (NASDAQ:VNOM) by 36.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 989,318 shares of the oil and gas producer’s stock after acquiring an additional 266,703 shares during the period. Viper Energy comprises approximately 2.8% of Recurrent Investment Advisors LLC’s holdings, making the stock its 18th largest position. Recurrent Investment Advisors LLC’s holdings in Viper Energy were worth $46,488,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new stake in shares of Viper Energy during the fourth quarter valued at approximately $52,087,000. Wellington Management Group LLP boosted its stake in Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the period. GW&K Investment Management LLC purchased a new position in Viper Energy during the 4th quarter worth approximately $42,550,000. Balyasny Asset Management L.P. grew its position in Viper Energy by 7,413.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock worth $42,417,000 after purchasing an additional 1,095,052 shares in the last quarter. Finally, Ninepoint Partners LP raised its stake in Viper Energy by 700.0% during the 4th quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer’s stock valued at $46,356,000 after purchasing an additional 1,050,000 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Shares of VNOM opened at $42.04 on Wednesday. The company’s 50 day moving average price is $44.03 and its 200 day moving average price is $44.41. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The company has a market capitalization of $15.09 billion, a PE ratio of -131.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last released its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company’s revenue was up 108.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Research analysts expect that Viper Energy Inc. will post 2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Zacks Research downgraded Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. KeyCorp upped their price target on Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. 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 objective for the company. Finally, Mizuho increased their price objective on Viper Energy from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Fifteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.57.

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.