Spirit of America Management Corp NY Has $1.28 Million Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Spirit of America Management Corp NY boosted its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 44.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,450 shares of the oil and gas producer’s stock after buying an additional 8,750 shares during the quarter. Spirit of America Management Corp NY’s holdings in Viper Energy were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its holdings in shares of Viper Energy by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the oil and gas producer’s stock worth $848,000 after acquiring an additional 453 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Viper Energy by 208.1% in the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Viper Energy by 4.5% during the 2nd quarter. Truist Financial Corp now owns 11,230 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 488 shares during the period. ORG Partners LLC grew its stake in Viper Energy by 17.9% in the 3rd quarter. ORG Partners LLC now owns 3,320 shares of the oil and gas producer’s stock valued at $150,000 after buying an additional 505 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Viper Energy by 0.4% during the third quarter. Stratos Wealth Partners LTD. now owns 122,557 shares of the oil and gas producer’s stock worth $5,529,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $52.46 on Friday. The stock’s 50-day moving average is $47.78 and its 200-day moving average is $42.31. Viper Energy, Inc. has a 1-year low of $27.61 and a 1-year high of $52.98. The company has a current ratio of 7.06, a quick ratio of 7.06 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.28 billion, a P/E ratio of 17.97 and a beta of 1.73.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analysts’ expectations of $216.28 million. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. Viper Energy’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Equities research analysts anticipate that Viper Energy, Inc. will post 1.99 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, August 15th. Viper Energy’s payout ratio is presently 41.10%.

Analysts Set New Price Targets

A number of brokerages have commented on VNOM. TD Securities upped their price objective on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Roth Mkm increased their target price on shares of Viper Energy from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Truist Financial boosted their price target on Viper Energy from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lifted their price objective on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Evercore ISI boosted their price target on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Viper Energy Company Profile

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.