Principal Financial Group Inc. Purchases 77,519 Shares of Viper Energy Inc. $VNOM

Principal Financial Group Inc. raised its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 26.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 374,739 shares of the oil and gas producer’s stock after buying an additional 77,519 shares during the period. Principal Financial Group Inc.’s holdings in Viper Energy were worth $14,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Viper Energy by 38.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after acquiring an additional 13,218 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Viper Energy by 264.2% during the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after purchasing an additional 174,684 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Viper Energy by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock valued at $9,233,000 after purchasing an additional 37,847 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Viper Energy by 10.8% in the second quarter. KLP Kapitalforvaltning AS now owns 27,800 shares of the oil and gas producer’s stock valued at $1,060,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its position in Viper Energy by 22.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 6,378 shares of the oil and gas producer’s stock worth $243,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 0.8%

NASDAQ:VNOM opened at $43.22 on Wednesday. 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 Inc. has a 1-year low of $34.71 and a 1-year high of $52.03. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 27.52 and a beta of 0.51. The business’s 50-day moving average price is $39.34 and its two-hundred day moving average price is $38.31.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VNOM. Piper Sandler cut their price target on Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Barclays dropped their price objective on Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Mizuho lifted their price target on shares of Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Viper Energy in a research note on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.71.

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.