254,518 Shares in Viper Energy Inc. $VNOM Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 254,518 Viper Energy shares worth approximately $10.8 million, taking a 0.07% stake. Institutional investors collectively own 87.72% of the company.
• Viper Energy reported quarterly revenue of $677 million, up 127.9% year over year and above estimates, while earnings per share of $0.76 matched consensus expectations.
• The company declared a special dividend of $0.29 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $57.07 versus the stock’s $42.37 opening price.

Assenagon Asset Management S.A. purchased a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 254,518 shares of the oil and gas producer's stock, valued at approximately $10,792,000. Assenagon Asset Management S.A. owned about 0.07% of Viper Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Viper Energy during the 4th quarter worth approximately $27,000. Parallel Advisors LLC lifted its holdings in Viper Energy by 68.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer's stock valued at $54,000 after purchasing an additional 568 shares during the last quarter. UMB Bank n.a. acquired a new stake in Viper Energy during the 4th quarter valued at $64,000. Clearstead Advisors LLC boosted its position in Viper Energy by 50.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer's stock worth $75,000 after purchasing an additional 654 shares during the period. Finally, Strive Financial Group LLC bought a new position in Viper Energy during the fourth quarter worth $97,000. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Up 3.8%

VNOM opened at $42.37 on Tuesday. The stock has a fifty day moving average of $43.40 and a 200-day moving average of $44.77. The company has a market capitalization of $15.21 billion, a P/E ratio of 325.95 and a beta of 0.40. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.37 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Viper Energy had a net margin of 2.89% and a return on equity of 3.43%. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $643.45 million. During the same period in the prior year, the company posted $0.41 earnings per share. Viper Energy's revenue was up 127.9% compared to the same quarter last year. On average, equities analysts expect that Viper Energy Inc. will post 2.54 EPS for the current year.

Viper Energy Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.29 per share. This represents a dividend yield of 266.0%. The ex-dividend date is Thursday, August 13th. Viper Energy's dividend payout ratio is presently 1,169.23%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Viper Energy from $49.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. TD raised their target price on shares of Viper Energy from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Viper Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. TD Cowen reiterated a "buy" rating on shares of Viper Energy in a research note on Tuesday, August 4th. Finally, Roth Capital reissued a "buy" rating on shares of Viper Energy in a report on Tuesday, August 4th. Seventeen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.07.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source