Wealth Enhancement Advisory Services LLC Invests $510,000 in Viper Energy Inc. $VNOM

Wealth Enhancement Advisory Services LLC bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,300 shares of the oil and gas producer’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new position in shares of Viper Energy during the 2nd quarter worth about $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in Viper Energy during the third quarter worth about $31,000. Assetmark Inc. boosted its position in Viper Energy by 48.7% during the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after purchasing an additional 350 shares during the last quarter. CoreCap Advisors LLC boosted its position in 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 valued at $42,000 after purchasing an additional 906 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in 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 purchasing an additional 534 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VNOM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, January 21st. Morgan Stanley dropped their price target on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Jefferies Financial Group assumed coverage on shares of Viper Energy in a research note on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price target for the company. Wells Fargo & Company boosted 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. Finally, Barclays dropped their target price on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.71.

Viper Energy Price Performance

NASDAQ:VNOM opened at $42.89 on Friday. The company has a market cap of $15.42 billion, a P/E ratio of 17.72, a P/E/G ratio of 26.66 and a beta of 0.51. The firm’s fifty day moving average price is $39.12 and its two-hundred day moving average price is $38.22. Viper Energy Inc. has a one year low of $34.71 and a one year high of $52.03. 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 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.