Ground Swell Capital LLC Takes Position in Viper Energy, Inc. (NASDAQ:VNOM)

Ground Swell Capital LLC acquired a new position in shares of Viper Energy, Inc. (NASDAQ:VNOM) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 12,521 shares of the oil and gas producer’s stock, valued at approximately $470,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its stake in shares of Viper Energy by 14.3% in the fourth quarter. Apollon Wealth Management LLC now owns 9,376 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 1,176 shares during the period. Jump Financial LLC acquired a new stake in Viper Energy in the 4th quarter valued at approximately $350,000. Boston Partners raised its stake in Viper Energy by 4.6% during the 4th quarter. Boston Partners now owns 1,837,651 shares of the oil and gas producer’s stock valued at $57,481,000 after acquiring an additional 80,321 shares in the last quarter. Heartland Advisors Inc. raised its stake in Viper Energy by 70.2% during the 4th quarter. Heartland Advisors Inc. now owns 400,000 shares of the oil and gas producer’s stock valued at $12,552,000 after acquiring an additional 165,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in Viper Energy by 139.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 19,841 shares of the oil and gas producer’s stock worth $622,000 after acquiring an additional 11,556 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Trading Down 4.4 %

Viper Energy stock opened at $44.79 on Wednesday. Viper Energy, Inc. has a one year low of $26.73 and a one year high of $49.37. The company’s fifty day moving average price is $43.88 and its two-hundred day moving average price is $39.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 16.47 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The company had revenue of $216.71 million during the quarter, compared to the consensus estimate of $216.28 million. During the same quarter in the prior year, the company posted $0.47 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. On average, analysts forecast that Viper Energy, Inc. will post 2.1 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. Viper Energy’s dividend payout ratio is presently 44.12%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Viper Energy from $44.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Truist Financial raised their price objective on Viper Energy from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI upped their price target on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays raised their target price on Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, TD Securities increased their price objective on Viper Energy from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $47.83.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.