Carret Asset Management LLC Has $223,000 Stock Position in Viper Energy, Inc. (NASDAQ:VNOM)

Carret Asset Management LLC reduced its stake in Viper Energy, Inc. (NASDAQ:VNOM) by 47.3% during the 3rd quarter, Holdings Channel reports. The fund owned 4,940 shares of the oil and gas producer’s stock after selling 4,425 shares during the period. Carret Asset Management LLC’s holdings in Viper Energy were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Viper Energy by 1,045.4% in the 4th quarter. Vanguard Group Inc. now owns 6,877,786 shares of the oil and gas producer’s stock valued at $215,825,000 after purchasing an additional 6,277,324 shares during the period. Requisite Capital Management LLC boosted its position in shares of Viper Energy by 2.7% in the first quarter. Requisite Capital Management LLC now owns 46,672 shares of the oil and gas producer’s stock valued at $1,795,000 after acquiring an additional 1,228 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Viper Energy in the first quarter valued at about $537,000. BNP Paribas Financial Markets acquired a new position in shares of Viper Energy in the first quarter valued at about $8,506,000. Finally, FORA Capital LLC bought a new position in Viper Energy during the first quarter worth about $857,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VNOM shares. TD Securities lifted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Evercore ISI lifted their price objective on Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Truist Financial increased their target price on Viper Energy from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on Viper Energy from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Barclays upped their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $49.00.

Viper Energy Price Performance

Shares of VNOM stock opened at $52.33 on Monday. The business has a fifty day simple moving average of $47.89 and a 200 day simple moving average of $42.41. The company has a market cap of $9.26 billion, a P/E ratio of 17.92 and a beta of 1.73. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. Viper Energy, Inc. has a twelve month low of $27.61 and a twelve month high of $53.25.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The firm had revenue of $216.71 million during the quarter, compared to analysts’ expectations of $216.28 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, sell-side analysts forecast that Viper Energy, Inc. will post 2.03 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid 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 41.10%.

Viper Energy 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.