200,000 Shares in Viper Energy Inc. $VNOM Purchased by Seven Grand Managers LLC

Key Points

• Seven Grand Managers LLC has acquired 200,000 shares in Viper Energy Inc. for approximately $9,030,000, marking it as the firm's 16th largest investment.
• Viper Energy reported an earnings per share (EPS) of $0.41, outperforming analyst expectations of $0.34, with a revenue of $297 million for the quarter, reflecting a 37.1% year-over-year increase.
• The company has announced a quarterly dividend of $0.53 per share, yielding about 5.5% annually, with a payout ratio of 34.68%.

Seven Grand Managers LLC purchased a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 200,000 shares of the oil and gas producer's stock, valued at approximately $9,030,000. Viper Energy comprises 2.1% of Seven Grand Managers LLC's holdings, making the stock its 16th largest position. Seven Grand Managers LLC owned 0.09% of Viper Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in Viper Energy in the 4th quarter valued at about $32,000. UMB Bank n.a. increased its position in 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 valued at $33,000 after acquiring an additional 414 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Viper Energy in the 1st quarter valued at about $34,000. Golden State Wealth Management LLC increased its position in Viper Energy by 100.0% in 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 acquiring an additional 500 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in Viper Energy in the 4th quarter valued at about $86,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Price Performance

NASDAQ:VNOM traded down $0.64 during trading hours on Friday, reaching $37.79. 2,293,711 shares of the company traded hands, compared to its average volume of 1,991,963. The firm's 50-day moving average is $38.57 and its 200-day moving average is $41.46. The stock has a market cap of $10.90 billion, a P/E ratio of 10.92, a P/E/G ratio of 17.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million for the quarter, compared to analysts' expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%. Viper Energy's quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. Equities research analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 14th. Viper Energy's dividend payout ratio (DPR) is 38.15%.

Analyst Ratings Changes

Several brokerages recently issued reports on VNOM. Barclays boosted their price target on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. KeyCorp dropped their price target on Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Bank of America dropped their target price on Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. TD Securities boosted their target price on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen cut Viper Energy from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and a consensus price target of $57.15.

About Viper Energy

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.