74,251 Shares in Viper Energy Inc. $VNOM Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new position in Viper Energy Inc. (NASDAQ:VNOM) during the third quarter, HoldingsChannel.com reports. The fund acquired 74,251 shares of the oil and gas producer’s stock, valued at approximately $2,962,000.

Other large investors have also added to or reduced their stakes in the company. Point Nemo Capital LLC bought a new position in shares of Viper Energy in the 3rd quarter valued at about $1,294,000. Formidable Asset Management LLC raised its holdings in Viper Energy by 11.4% during the third quarter. Formidable Asset Management LLC now owns 10,913 shares of the oil and gas producer’s stock worth $435,000 after acquiring an additional 1,113 shares in the last quarter. Parallel Advisors LLC raised its holdings in Viper Energy by 70.7% during the third quarter. Parallel Advisors LLC now owns 2,315 shares of the oil and gas producer’s stock worth $92,000 after acquiring an additional 959 shares in the last quarter. United Advisor Group LLC boosted its position in Viper Energy by 17.2% during the third quarter. United Advisor Group LLC now owns 13,766 shares of the oil and gas producer’s stock valued at $549,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its position in Viper Energy by 24.7% during the third quarter. Kestra Advisory Services LLC now owns 42,575 shares of the oil and gas producer’s stock valued at $1,698,000 after purchasing an additional 8,428 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Viper Energy stock opened at $40.62 on Monday. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The stock’s 50 day moving average is $43.60 and its 200-day moving average is $44.41. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 29.65 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. The business had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $625.18 million. Viper Energy had a net margin of 12.08% and a return on equity of 4.24%. The business’s revenue was up 58.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. Equities research analysts expect that Viper Energy Inc. will post 2.92 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, November 12th. Viper Energy’s dividend payout ratio (DPR) is currently 110.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Viper Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Mizuho set a $57.00 target price on shares of Viper Energy in a report on Tuesday, October 13th. TD Cowen reiterated a “buy” rating on shares of Viper Energy in a research note on Tuesday, August 4th. Citigroup decreased their target price on Viper Energy from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, TD increased their price target on Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.41.

Viper Energy Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties. Rather than serving primarily as a drilling operator, the company earns revenue from production on acreage where other companies conduct exploration and development.

Its interests are concentrated in the Permian Basin of West Texas and southeastern New Mexico, including the Midland and Delaware sub-basins. Viper’s business is tied to activity by the operators that develop the underlying properties.

Originally formed as Viper Energy Partners LP in 2014 as an affiliate of Diamondback Energy, the company later converted to a corporation and adopted the Viper Energy, Inc name.