Viper Energy stays a Buy with strong Permian assets and solid Q1 despite market volatility.

Viper Energy (VNOM) remains a Buy due to its strong Permian oil assets, solid cash flow, and attractive valuation despite recent market fluctuations. In Q1, VNOM reported steady production, secured a $15 million lease bonus, and completed the transformative Riverbend acquisition funded by selling non-core assets and managing its balance sheet prudently. The company benefits from high oil prices driven by the Iran conflict, though this boost may be temporary with risks of a price drop after the conflict ends. Despite recent stock growth, VNOM's valuation still reflects conservative assumptions, maintaining a healthy margin of safety for investors.