Ninepoint Partners LP Makes New Investment in Viper Energy Inc. $VNOM

Ninepoint Partners LP purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 250,000 shares of the oil and gas producer’s stock, valued at approximately $10,600,000. Viper Energy comprises about 0.8% of Ninepoint Partners LP’s holdings, making the stock its 21st biggest holding. Ninepoint Partners LP owned approximately 0.07% of Viper Energy as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Encompass Capital Advisors LLC bought a new stake in Viper Energy during the fourth quarter worth $52,087,000. Wellington Management Group LLP boosted its position in Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the period. GW&K Investment Management LLC purchased a new position in Viper Energy in the 4th quarter valued at approximately $42,550,000. Balyasny Asset Management L.P. grew its position in shares of Viper Energy by 7,413.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer’s stock valued at $42,417,000 after purchasing an additional 1,095,052 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after purchasing an additional 1,024,838 shares during the period. Institutional investors own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of Viper Energy stock opened at $45.03 on Friday. Viper Energy Inc. has a one year low of $35.10 and a one year high of $51.13. The stock has a market capitalization of $16.17 billion, a P/E ratio of 346.41 and a beta of 0.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.37 and a quick ratio of 6.37. The business’s 50 day simple moving average is $42.99 and its two-hundred day simple moving average is $44.91.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $643.45 million. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The firm’s revenue was up 127.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Analysts forecast that Viper Energy Inc. will post 2.58 EPS for the current year.

Viper Energy Dividend Announcement

The business also recently announced a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $0.29 dividend. This represents a dividend yield of 281.0%. The ex-dividend date of this dividend was Thursday, August 13th. Viper Energy’s dividend payout ratio is currently 1,169.23%.

Wall Street Analyst Weigh In

VNOM has been the topic of several analyst reports. Johnson Rice initiated coverage on Viper Energy in a research report on Monday, August 3rd. They set an “accumulate” rating and a $55.00 price target on the stock. TD boosted their price objective on shares of Viper Energy from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Roth Capital reissued a “buy” rating on shares of Viper Energy in a report on Tuesday, August 4th. Finally, Truist Financial lowered their price objective on Viper Energy from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.93.

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.