Amalgamated Bank Acquires 10,529 Shares of Viper Energy Inc. (NASDAQ:VNOM)

Amalgamated Bank lifted its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,901 shares of the oil and gas producer's stock after buying an additional 10,529 shares during the period. Amalgamated Bank's holdings in Viper Energy were worth $2,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Highland Capital Management LLC acquired a new position in shares of Viper Energy in the 1st quarter worth approximately $290,000. Golden State Wealth Management LLC grew its position in 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 acquiring an additional 500 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Viper Energy during the 1st quarter worth approximately $131,000. Segment Wealth Management LLC grew its position in Viper Energy by 3.9% during the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer's stock worth $430,000 after acquiring an additional 360 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Viper Energy by 21.5% during the 1st quarter. Retirement Systems of Alabama now owns 339,124 shares of the oil and gas producer's stock worth $15,311,000 after acquiring an additional 60,112 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VNOM shares. Wall Street Zen upgraded Viper Energy from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. KeyCorp decreased 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. JPMorgan Chase & Co. decreased their price target on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI increased their price target on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $60.00 price objective (up from $54.00) on shares of Viper Energy in a research report on Thursday, June 5th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Viper Energy has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Viper Energy Trading Up 3.5%

Viper Energy stock traded up $1.27 during mid-day trading on Tuesday, hitting $37.83. 2,237,489 shares of the company's stock were exchanged, compared to its average volume of 1,396,132. The firm has a market capitalization of $10.92 billion, a P/E ratio of 9.96, a PEG ratio of 17.74 and a beta of 0.97. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The company has a quick ratio of 8.70, a current ratio of 8.70 and a debt-to-equity ratio of 0.15. The company's 50 day simple moving average is $40.37 and its 200-day simple moving average is $43.79.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. The business had revenue of $245.00 million for the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same quarter last year, the business posted $0.49 EPS. On average, equities analysts anticipate that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy's payout ratio is presently 31.58%.

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.