Titleist Asset Management LLC Invests $948,000 in Viper Energy Inc. $VNOM

Key Points

• Titleist Asset Management LLC has acquired 21,000 shares of Viper Energy Inc. valued at approximately $948,000, indicating growing institutional interest in the company.
• Viper Energy reported earnings of $0.41 per share for the last quarter, exceeding analyst expectations, with a year-over-year revenue increase of 37.1%.
• The firm has recently cut its quarterly dividend to $0.53, leading to a dividend yield of 5.3% and a payout ratio of 38.15%.

Titleist Asset Management LLC bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the oil and gas producer's stock, valued at approximately $948,000.

Several other large investors also recently modified their holdings of VNOM. Quarry LP acquired a new stake in shares of Viper Energy during the 4th quarter worth approximately $32,000. UMB Bank n.a. grew its position in shares of Viper Energy by 129.0% during 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 period. Cullen Frost Bankers Inc. acquired a new stake in shares of Viper Energy during the 1st quarter worth approximately $34,000. AlphaQuest LLC acquired a new stake in shares of Viper Energy during the 1st quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC grew its position in shares of 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 worth $45,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 87.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. TD Securities increased their target price on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. William Blair initiated coverage on Viper Energy in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Wells Fargo & Company cut their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Finally, 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 report on Wednesday, May 7th. Sixteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $55.80.

Viper Energy Stock Up 2.5%

NASDAQ:VNOM traded up $0.96 during trading hours on Thursday, hitting $39.06. 1,638,438 shares of the company traded hands, compared to its average volume of 1,730,066. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $38.06 and its 200-day simple moving average is $40.61. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. The company has a market cap of $11.27 billion, a PE ratio of 11.29, a PEG ratio of 17.81 and a beta of 1.04.

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

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.4%. Viper Energy's dividend payout ratio (DPR) is 38.15%.

Viper Energy 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.