Advisors Asset Management Inc. Buys New Shares in Viper Energy Inc. $VNOM

Key Points

• Advisors Asset Management Inc. has taken a new position in Viper Energy Inc., acquiring nearly 30,000 shares valued at approximately $1.35 million during the first quarter.
• Viper Energy has recently announced a quarterly dividend of $0.53 per share, leading to an annualized yield of 5.4% and a payout ratio of 38.15%.
• Analysts are optimistic about Viper Energy, with several firms increasing their price targets, resulting in an average target price of $55.80 and an overall rating of "Buy" from sixteen analysts.

Advisors Asset Management Inc. bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,926 shares of the oil and gas producer's stock, valued at approximately $1,351,000.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in shares of 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 shares of Viper Energy in the first quarter valued at approximately $34,000. AlphaQuest LLC purchased a new stake in shares of Viper Energy in the first quarter valued at approximately $41,000. Golden State Wealth Management LLC boosted its holdings in shares of 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 in the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Down 1.1%

Shares of VNOM stock traded down $0.42 during trading hours on Friday, reaching $38.57. 1,194,366 shares of the company's stock were exchanged, compared to its average volume of 2,361,478. The stock's 50 day moving average is $38.06 and its 200-day moving average is $40.08. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 17.44 and a beta of 1.04. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $297.00 million for the quarter, compared to the consensus estimate of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The business's quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. Analysts predict 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 was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is presently 38.15%.

Analysts Set New Price Targets

A number of analysts recently issued reports on VNOM shares. Piper Sandler boosted their price target on Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. KeyCorp lowered their price target on Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. William Blair assumed coverage on Viper Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. Wall Street Zen lowered Viper Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Wells Fargo & Company lowered their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Sixteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Viper Energy currently 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.