Drive Wealth Management LLC Makes New Investment in Viper Energy, Inc. (NASDAQ:VNOM)

Drive Wealth Management LLC bought a new position in Viper Energy, Inc. (NASDAQ:VNOM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,913 shares of the oil and gas producer’s stock, valued at approximately $388,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC increased its stake in shares of Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 460 shares during the period. National Bank of Canada FI increased its stake in shares of Viper Energy by 524.8% during the third quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock valued at $63,000 after acquiring an additional 1,165 shares during the period. Versant Capital Management Inc acquired a new position in shares of Viper Energy during the fourth quarter valued at approximately $94,000. Finally, Geneos Wealth Management Inc. acquired a new position in Viper Energy in the fourth quarter worth approximately $110,000. Institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on VNOM. The Goldman Sachs Group began coverage on shares of Viper Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $70.00 price target on the stock. Evercore ISI lifted their price target on shares of Viper Energy from $45.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. KeyCorp upgraded shares of Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Friday, December 13th. Raymond James lifted their price target on shares of Viper Energy from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Roth Mkm lifted their price target 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. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Viper Energy Trading Down 2.2 %

Shares of NASDAQ:VNOM opened at $46.59 on Tuesday. The firm has a fifty day moving average of $50.93 and a two-hundred day moving average of $48.53. The firm has a market capitalization of $8.78 billion, a P/E ratio of 20.00 and a beta of 1.73. Viper Energy, Inc. has a 12-month low of $30.56 and a 12-month high of $56.76. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.25.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. Viper Energy’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. On average, equities analysts expect that Viper Energy, Inc. will post 2.01 EPS for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. Viper Energy’s dividend payout ratio is currently 51.50%.

Viper Energy Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.