Titleist Asset Management LLC Increases Position in Viper Energy Inc. $VNOM

Titleist Asset Management LLC lifted its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 958.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 223,426 shares of the oil and gas producer’s stock after purchasing an additional 202,326 shares during the quarter. Titleist Asset Management LLC’s holdings in Viper Energy were worth $8,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Beacon Pointe Advisors LLC acquired a new position in Viper Energy during the 2nd quarter worth about $608,000. JPMorgan Chase & Co. boosted its stake in shares of Viper Energy by 15.1% in the second quarter. JPMorgan Chase & Co. now owns 303,909 shares of the oil and gas producer’s stock valued at $11,588,000 after purchasing an additional 39,867 shares during the period. Trilogy Capital Inc. grew its holdings in shares of Viper Energy by 190.4% in the third quarter. Trilogy Capital Inc. now owns 59,960 shares of the oil and gas producer’s stock valued at $2,292,000 after purchasing an additional 39,315 shares in the last quarter. Howard Financial Services LTD. increased its stake in Viper Energy by 140.6% during the 3rd quarter. Howard Financial Services LTD. now owns 48,760 shares of the oil and gas producer’s stock worth $1,864,000 after buying an additional 28,498 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in Viper Energy during the 2nd quarter worth approximately $505,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VNOM shares. Mizuho upped their price objective on Viper Energy from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Jefferies Financial Group started coverage on Viper Energy in a report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price target on the stock. Wells Fargo & Company increased their price target on Viper Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Viper Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.71.

Viper Energy Trading Up 1.7%

VNOM opened at $42.59 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. Viper Energy Inc. has a one year low of $34.71 and a one year high of $52.03. The company has a market cap of $15.31 billion, a P/E ratio of 17.60, a PEG ratio of 26.57 and a beta of 0.51. The business’s 50-day simple moving average is $38.87 and its 200-day simple moving average is $38.16.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The company had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue was up 98.1% on a year-over-year basis. As a group, equities research analysts expect that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

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.