Yahoo Finance Improved Oil Prices and M&A Transactions Pushed Viper Energy (VNOM) in Q1
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first-quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the portfolio gained +8.5% on a net basis, well above R2000V’s advance of +2.9% and above R2500V’s rise of +6.1%. The largest contribution to the gains on the portfolio was the Energy holdings. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Bernzott Capital Advisors US Small Cap Value Fund featured stocks like Viper Energy Partners LP (NASDAQ:VNOM) in the Q1 2024 investor letter. Based in Midland, Texas, Viper Energy Partners LP (NASDAQ:VNOM) acquires, owns, and exploits oil and natural gas properties. On April 24, 2024, Viper Energy, Inc. (NASDAQ:VNOM) stock closed at $39.88 per share. One-month return of Viper Energy, Inc. (NASDAQ:VNOM) was 3.69%, and its shares gained 40.27% of their value over the last 52 weeks. Viper Energy, Inc. (NASDAQ:VNOM) has a market capitalization of $7.053 billion.
Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding Viper Energy, Inc. (NASDAQ:VNOM) in its first quarter 2024 investor letter:
"Energy holdings were the leading contributor to the portfolio's returns. Stock selection was the main driver within Energy with both Archrock and Viper Energy, Inc. (NASDAQ:VNOM) advancing 28% and 24% respectively. Improving oil prices served as a tailwind for Viper Energy’s quarterly results, while the recent M&A transaction by Diamondback Energy provides significant visibility into additional growth for Viper Energy. Viper remains a top position in the portfolio."
The sun rising over a sprawling network of oil & gas pipelines near Midland, Texas.
Viper Energy, Inc. (NASDAQ:VNOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Viper Energy, Inc. (NASDAQ:VNOM) was held by 17 hedge fund portfolios, compared to 15 in the previous quarter, according to our database.
We previously discussed Viper Energy, Inc. (NASDAQ:VNOM) in another article, where we shared Jim Cramer’s Stocks to Buy. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
