Viper Energy
VNOM on Nasdaq. Crude petroleum & natural gas. Market value $5.0bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Energy stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 30.0 years of operating profit for the business. The average large US company costs around 18.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 22 of 100. Our list needs 70 on quality and 60 on price.
$41.59 a share, 18% above its 1-year low
Over the past year the price has ranged from $35.10 to $51.13.
Dividend: 5.5% a year
Paid in its latest year
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |
| Revenue | $1.4bn |
| Operating margin | |
| Operating margin | -10.0% |
| Debt to equity | |
| Debt to equity | 0.49 |
| Shares outstanding | |
| Shares outstanding | 0.14bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- Debt0.49× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesRoughly flat
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
6 long-term investors we follow own it, unchanged from 6 last quarter. 494 funds in all.
- Oaktree Capital ManagementHoward Marks
- Value
- $161m
- Share of fund
- 4.3%
- Horizon KineticsMurray Stahl
- Value
- $70m
- Share of fund
- 0.8%
- Heartland AdvisorsBill Nasgovitz
- Value
- $23m
- Share of fund
- 1.0%
- Royce & AssociatesChuck Royce
- Value
- $681,326
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Oaktree Capital ManagementHoward Marks | $161m | 4.3% | |
| Horizon KineticsMurray Stahl | $70m | 0.8% | |
| Boston PartnersBoston Partners team | $23m | <0.1% | Cut |
| Heartland AdvisorsBill Nasgovitz | $23m | 1.0% | |
| Royce & AssociatesChuck Royce | $681,326 | <0.1% | |
| Cullen Capital ManagementJames Cullen | $228,918 | <0.1% | Cut |
Largest holders overall
- Capital World Investors$1.1bnAdded
- BlackRock$815mAdded
- Kimmeridge Energy Management Company$665mNew
- Vanguard Portfolio Management$384mCut
- Price T Rowe Associates$379m
- Wellington Management Group LLP$369mCut
- Vanguard Capital Management$357mCut
- State Street$321mAdded
- FIL$239m
- D. E. Shaw$232mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
9 investors own more than 5%.
- Diamondback Energy, Inc.Strategic holderat least 42.9%+0.7 pts(filed with 2 related holders)Since 1 September 2026
What they said
Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Closing of the Purchase Agreement On September 1, 2026, the previously disclosed Purchase Agreement closed. As a result, the Reporting Persons acquired an aggregate of 3,815,459 OpCo units and an…
Read the filing - Endeavor Energy Resources, L.P.at least 26.4%0.0 pts(filed with 1 related holder)Since 19 March 2026
- Capital World InvestorsPassive investor13.6%+1.2 ptsSince 30 June 2026
- BlackRock, Inc.Passive investor9.8%Since 31 March 2026
- Kimmeridge Energy Management Company, LLCPassive investor7.5%−1.6 ptsSince 31 March 2026
- Wellington Management Company LLPPassive investor5.6%−2.9 ptsSince 30 September 2025
- Vanguard Capital ManagementPassive investor5.2%Since 31 March 2026
- Wellington Management Group LLPPassive investorat least 4.5%−1.6 pts(filed with 2 related holders)Since 30 June 2026
- EnCap Partners GP, LLCPassive investorat least 4.0%−4.4 pts(filed with 3 related holders)Since 2 March 2026
- T. Rowe Price Associates, Inc.Passive investorSold down below 5%Since 31 March 2026
- Blackstone Holdings III L.P.Passive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Diamondback Energy, Inc. Strategic holder | at least 42.9%+0.7 pts (filed with 2 related holders) | 1 September 2026 | What they saidItem 4 of the Schedule 13D is hereby amended and supplemented as follows: Closing of the Purchase Agreement On September 1, 2026, the previously disclosed Purchase Agreement closed. As a result, the Reporting Persons acquired an aggregate of 3,815,459 OpCo units and an… Read the filing |
Endeavor Energy Resources, L.P. | at least 26.4%0.0 pts (filed with 1 related holder) | 19 March 2026 | |
Capital World Investors Passive investor | 13.6%+1.2 pts | 30 June 2026 | |
BlackRock, Inc. Passive investor | 9.8% | 31 March 2026 | |
Kimmeridge Energy Management Company, LLC Passive investor | 7.5%−1.6 pts | 31 March 2026 | |
Wellington Management Company LLP Passive investor | 5.6%−2.9 pts | 30 September 2025 | |
Vanguard Capital Management Passive investor | 5.2% | 31 March 2026 | |
Wellington Management Group LLP Passive investor | at least 4.5%−1.6 pts (filed with 2 related holders) | 30 June 2026 | |
EnCap Partners GP, LLC Passive investor | at least 4.0%−4.4 pts (filed with 3 related holders) | 2 March 2026 | |
T. Rowe Price Associates, Inc. Passive investor | Sold down below 5% | 31 March 2026 | |
Blackstone Holdings III L.P. Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It isn't cheap on profits: 30.0× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.