Apollon Wealth Management LLC Sells 17,101 Shares of Viper Energy Inc. $VNOM

Key Points

• Apollon Wealth Management LLC sold 17,101 shares of Viper Energy, reducing its stake by 52.5% to 15,452 shares, valued at approximately $589,000.
• Viper Energy reported a quarterly earnings per share of $0.41, exceeding analysts' expectations, and experienced a 37.1% year-over-year revenue increase to $297 million.
• Following recent analyst activity, Viper Energy's ratings vary, with a consensus rating of "Moderate Buy" and a price target averaging $55.21.

Apollon Wealth Management LLC lessened its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 52.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,452 shares of the oil and gas producer's stock after selling 17,101 shares during the period. Apollon Wealth Management LLC's holdings in Viper Energy were worth $589,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Viper Energy in the 1st quarter valued at about $34,000. AlphaQuest LLC bought a new stake in shares of Viper Energy in the 1st quarter valued at about $41,000. Golden State Wealth Management LLC grew its position in shares of Viper Energy by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 500 shares during the last quarter. UMB Bank n.a. grew its position in shares of Viper Energy by 65.6% in the 2nd quarter. UMB Bank n.a. now owns 1,217 shares of the oil and gas producer's stock valued at $46,000 after buying an additional 482 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Viper Energy by 39.1% in the 1st quarter. US Bancorp DE now owns 1,965 shares of the oil and gas producer's stock valued at $89,000 after buying an additional 552 shares during the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Down 1.6%

VNOM stock opened at $36.22 on Friday. The stock's 50 day simple moving average is $38.26 and its 200 day simple moving average is $39.14. 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 debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. The company has a market cap of $10.45 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 16.21 and a beta of 0.92.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $285.35 million. During the same period in the prior year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 37.1% on a year-over-year basis. On average, research analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is 38.15%.

Wall Street Analyst Weigh In

VNOM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Viper Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Raymond James Financial reissued an "outperform" rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Wells Fargo & Company boosted their price objective on Viper Energy from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday. Morgan Stanley dropped their price objective on Viper Energy from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Roth Capital set a $50.00 price objective on Viper Energy and gave the company a "buy" rating in a research note on Tuesday, August 26th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Viper Energy has a consensus rating of "Moderate Buy" and an average price target of $55.21.

About Viper Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.