Maridea Wealth Management LLC Takes Position in Viper Energy Inc. (NASDAQ:VNOM)

Key Points

• Maridea Wealth Management LLC acquired 10,743 shares of Viper Energy Inc. (NASDAQ:VNOM), valued at approximately $485,000, during the first quarter.
• Viper Energy reported a quarterly earnings per share (EPS) of $0.54, exceeding analysts' expectations, and has a current market capitalization of $10.94 billion.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 3.17%.

Maridea Wealth Management LLC purchased a new position in Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,743 shares of the oil and gas producer's stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VNOM. Quarry LP purchased a new stake in shares of Viper Energy in the 4th quarter worth approximately $32,000. UMB Bank n.a. grew its stake in shares of Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after buying an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Viper Energy in the 1st quarter worth approximately $34,000. Golden State Wealth Management LLC boosted its stake in Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Viper Energy by 8,100.0% during the 4th quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,296 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

Viper Energy stock traded up $0.18 during trading on Monday, reaching $38.09. The company had a trading volume of 1,125,845 shares, compared to its average volume of 1,575,423. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $56.76. The firm's 50-day simple moving average is $39.29 and its 200 day simple moving average is $42.57. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 17.33 and a beta of 0.97. The company has a current ratio of 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. The company had revenue of $245.00 million for the quarter, compared to analysts' expectations of $233.99 million. During the same period last year, the firm earned $0.49 EPS. Sell-side analysts forecast that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.15%. Viper Energy's dividend payout ratio is presently 31.58%.

Analyst Ratings Changes

Several brokerages have commented on VNOM. JPMorgan Chase & Co. cut their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. TD Securities increased their target price on Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Raymond James Financial reiterated an "outperform" rating and set a $60.00 target price (up from $54.00) on shares of Viper Energy in a research note on Thursday, June 5th. KeyCorp cut their target price on Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler increased their target price on Viper Energy from $65.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.46.

Viper Energy Company Profile

Viper Energy, Inc engages in the acquisition of oil and natural gas properties. It owns, acquires, and exploits oil and natural gas properties in North America. The company was founded on February 27, 2014 and is headquartered in Midland, TX.