SCP Investment LP Grows Position in Viper Energy Inc. $VNOM

SCP Investment LP increased its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 52.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,800 shares of the oil and gas producer’s stock after purchasing an additional 27,000 shares during the period. Viper Energy comprises about 2.5% of SCP Investment LP’s investment portfolio, making the stock its 8th largest position. SCP Investment LP’s holdings in Viper Energy were worth $3,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of VNOM. Ameriflex Group Inc. bought a new stake in shares of Viper Energy during the third quarter valued at approximately $38,000. Parallel Advisors LLC increased its position in shares of Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares during the period. Fifth Third Bancorp increased its position in shares of Viper Energy by 151.8% during the third quarter. Fifth Third Bancorp now owns 1,536 shares of the oil and gas producer’s stock valued at $59,000 after purchasing an additional 926 shares during the period. Colonial Trust Advisors bought a new stake in shares of Viper Energy during the third quarter valued at approximately $69,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Viper Energy by 256.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock valued at $69,000 after purchasing an additional 1,291 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $46.02 on Wednesday. The business’s fifty day moving average price is $47.05 and its two-hundred day moving average price is $42.84. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of -143.81 and a beta of 0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.43 by $0.12. The company had revenue of $511.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 108.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, analysts predict that Viper Energy Inc. will post 2.59 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, May 14th. Viper Energy’s dividend payout ratio is presently -475.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VNOM. Wall Street Zen upgraded Viper Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Piper Sandler upped their price target on Viper Energy from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Roth Mkm reiterated a “buy” rating and issued a $54.00 price target on shares of Viper Energy in a research report on Tuesday, May 5th. TD Securities upped their price target on Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, Barclays upped their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Viper Energy currently has a consensus rating of “Buy” and an average target price of $57.86.

About Viper Energy

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.