Axxcess Wealth Management LLC Sells 248 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

Axxcess Wealth Management LLC lessened its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,449 shares of the oil and gas producer’s stock after selling 248 shares during the period. Axxcess Wealth Management LLC’s holdings in Viper Energy were worth $246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in 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 worth $26,000 after buying an additional 450 shares during the last quarter. GAMMA Investing LLC increased its position in Viper Energy by 208.1% during the third quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 460 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Viper Energy during the second quarter worth approximately $36,000. Plato Investment Management Ltd increased its position in Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,541 shares during the last quarter. Finally, ORG Partners LLC increased its position in Viper Energy by 962.3% during the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock worth $107,000 after buying an additional 2,550 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 1.0 %

Shares of NASDAQ:VNOM opened at $51.36 on Friday. The company has a market capitalization of $9.08 billion, a P/E ratio of 22.55 and a beta of 1.72. Viper Energy, Inc. has a 1 year low of $28.55 and a 1 year high of $56.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. The business’s 50 day simple moving average is $49.35 and its 200 day simple moving average is $43.62.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, topping 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 return on equity of 6.72% and a net margin of 24.65%. The firm’s quarterly revenue was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. On average, research analysts anticipate that Viper Energy, Inc. will post 2.07 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, November 14th. Viper Energy’s payout ratio is presently 51.50%.

Wall Street Analyst Weigh In

VNOM has been the topic of several research reports. Piper Sandler upped their target price on Viper Energy from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. StockNews.com downgraded Viper Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. TD Securities upped their target price on Viper Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Truist Financial upped their target price on Viper Energy from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Roth Mkm upped their target price on Viper Energy from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.25.

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.