Strs Ohio Cuts Stock Position in Viper Energy Inc. $VNOM

Strs Ohio cut its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 87.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,035 shares of the oil and gas producer’s stock after selling 28,718 shares during the period. Strs Ohio’s holdings in Viper Energy were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. QV Investors Inc. purchased a new stake in Viper Energy in the third quarter worth approximately $879,000. Covestor Ltd raised its stake in shares of Viper Energy by 46.9% during the third quarter. Covestor Ltd now owns 5,682 shares of the oil and gas producer’s stock worth $217,000 after acquiring an additional 1,815 shares in the last quarter. Americana Partners LLC lifted its holdings in shares of Viper Energy by 3.6% in the 3rd quarter. Americana Partners LLC now owns 85,866 shares of the oil and gas producer’s stock worth $3,282,000 after acquiring an additional 3,008 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in shares of Viper Energy by 16.7% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the oil and gas producer’s stock valued at $13,377,000 after purchasing an additional 50,000 shares in the last quarter. Finally, AWM Capital LLC bought a new position in shares of Viper Energy during the 3rd quarter valued at $1,075,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Up 1.8%

Shares of NASDAQ:VNOM opened at $41.88 on Wednesday. The stock’s 50-day moving average is $38.73 and its 200 day moving average is $38.13. The company has a market cap of $15.06 billion, a PE ratio of 17.31, a P/E/G ratio of 26.09 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $52.03.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business’s quarterly revenue was up 98.1% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Sell-side analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current year.

Analyst Upgrades and Downgrades

VNOM has been the subject of several recent research reports. Mizuho boosted their price target on shares of Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Morgan Stanley lowered their target price on Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Barclays reduced their price target 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. Wells Fargo & Company boosted their price objective on Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Finally, Piper Sandler dropped their price objective on Viper Energy from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy currently has an average rating of “Moderate Buy” and an average target price of $52.71.

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.