Retirement Systems of Alabama Has $17.83 Million Position in Viper Energy Inc. $VNOM

Retirement Systems of Alabama grew its stake in Viper Energy Inc. (NASDAQ:VNOM) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,545 shares of the oil and gas producer’s stock after purchasing an additional 35,354 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Viper Energy worth $17,829,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Oaktree Capital Management LP bought a new stake in shares of Viper Energy during the 3rd quarter worth about $240,215,000. Vanguard Group Inc. raised its holdings 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 valued at $646,180,000 after acquiring an additional 3,699,141 shares during the period. Capital World Investors lifted its position in Viper Energy by 18.7% during the third quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock worth $474,821,000 after acquiring an additional 1,957,417 shares during the last quarter. HITE Hedge Asset Management LLC lifted its position in Viper Energy by 452.4% during the third quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer’s stock worth $63,521,000 after acquiring an additional 1,361,130 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Viper Energy by 7,413.0% during the third 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 acquiring an additional 1,095,052 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on VNOM shares. Truist Financial began coverage on Viper Energy in a research note on Tuesday, March 24th. They set a “buy” rating and a $54.00 target price on the stock. TD Securities boosted their price target on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Piper Sandler upped their price objective on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Barclays lowered their price objective on Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Finally, Mizuho upped their price target on shares of Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Viper Energy Trading Down 3.4%

Shares of VNOM stock opened at $45.40 on Thursday. The stock has a market cap of $16.23 billion, a P/E ratio of -197.38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.50. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $49.08. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $44.42 and a 200 day simple moving average of $40.14.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.51 million. Viper Energy had a positive return on equity of 2.62% and a negative net margin of 4.87%.The company’s revenue was up 87.6% on a year-over-year basis. During the same quarter last year, the company earned $2.04 EPS. On average, research analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.3%. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 5th. Viper Energy’s payout ratio is presently -660.87%.

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.