JPMorgan Chase & Co. Has $16.37 Million Stock Position in Viper Energy Inc. $VNOM

JPMorgan Chase & Co. grew its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 428,168 shares of the oil and gas producer’s stock after acquiring an additional 124,259 shares during the period. JPMorgan Chase & Co. owned 0.15% of Viper Energy worth $16,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in shares of Viper Energy during the second quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Viper Energy in the 3rd quarter valued at $31,000. Assetmark Inc. increased its position in Viper Energy by 48.7% during the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 350 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Viper Energy by 503.3% during the third quarter. CoreCap Advisors LLC now owns 1,086 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 906 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Viper Energy by 82.5% in the second quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $44.78 on Wednesday. The stock’s 50-day simple moving average is $41.00 and its 200 day simple moving average is $39.08. The firm has a market capitalization of $16.10 billion, a PE ratio of -194.69 and a beta of 0.48. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.21. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $48.00.

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

Viper Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, March 5th. This is a positive change from Viper Energy’s previous quarterly dividend of $0.33. Viper Energy’s dividend payout ratio is currently -573.91%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VNOM shares. Wells Fargo & Company lifted their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Mizuho boosted their price target on Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Wall Street Zen downgraded Viper Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Piper Sandler reduced their target price on Viper Energy from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.43.

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.