Advisors Asset Management Inc. Acquires Shares of 29,926 Viper Energy Inc. $VNOM

Advisors Asset Management Inc. bought a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,926 shares of the oil and gas producer's stock, valued at approximately $1,351,000.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy in the first quarter valued at approximately $34,000. AlphaQuest LLC purchased a new stake in Viper Energy in the first quarter valued at approximately $41,000. Golden State Wealth Management LLC raised its position in Viper Energy by 100.0% in the first 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 period. Finally, Park Square Financial Group LLC purchased a new stake in shares of Viper Energy during the fourth quarter worth $86,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Up 2.8%

Shares of VNOM stock traded up $1.05 on Wednesday, reaching $39.23. 1,592,312 shares of the stock were exchanged, compared to its average volume of 2,445,043. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. The business's 50 day moving average price is $38.04 and its 200 day moving average price is $40.21. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 17.08 and a beta of 1.04. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The company's revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, sell-side analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal 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 $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.4%. The ex-dividend date was Thursday, August 14th. Viper Energy's dividend payout ratio is currently 38.15%.

Analyst Ratings Changes

A number of research firms have recently weighed in on VNOM. Roth Capital set a $50.00 price objective on Viper Energy and gave the stock a "buy" rating in a research report on Tuesday, August 26th. KeyCorp cut their price objective on Viper Energy from $56.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. TD Securities upped their price objective on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company cut their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Sixteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Viper Energy has a consensus rating of "Buy" and a consensus price target of $55.80.

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.