Bank of New York Mellon Corp Has $48.80 Million Stock Holdings in Viper Energy Inc. (NASDAQ:VNOM)

Bank of New York Mellon Corp cut its stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,080,772 shares of the oil and gas producer's stock after selling 15,762 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of Viper Energy worth $48,797,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Viper Energy in the 4th quarter worth approximately $1,701,000. Principal Financial Group Inc. boosted its stake in shares of Viper Energy by 27.6% during the 1st quarter. Principal Financial Group Inc. now owns 302,575 shares of the oil and gas producer's stock valued at $13,661,000 after buying an additional 65,375 shares during the period. Amalgamated Bank boosted its position in Viper Energy by 21.3% during the first quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer's stock valued at $2,705,000 after purchasing an additional 10,529 shares during the last quarter. GAMMA Investing LLC boosted its position in Viper Energy by 6,591.3% during the first quarter. GAMMA Investing LLC now owns 91,068 shares of the oil and gas producer's stock valued at $4,112,000 after purchasing an additional 89,707 shares during the last quarter. Finally, FORA Capital LLC boosted its position in Viper Energy by 196.5% during the fourth quarter. FORA Capital LLC now owns 13,326 shares of the oil and gas producer's stock valued at $654,000 after purchasing an additional 8,831 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

NASDAQ VNOM traded down $0.43 during trading on Wednesday, reaching $36.67. 696,244 shares of the company traded hands, compared to its average volume of 1,414,482. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 18.22 and a beta of 0.97. The stock's 50 day moving average price is $39.94 and its two-hundred day moving average price is $43.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.70 and a current ratio of 8.70. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $56.76.

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

Viper Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.27%. Viper Energy's payout ratio is presently 31.58%.

Analysts Set New Price Targets

Several research firms recently issued reports on VNOM. Wells Fargo & Company lifted their price objective on shares of Viper Energy from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. KeyCorp reduced their price objective on shares of Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Piper Sandler reduced their price objective on shares of Viper Energy from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

Viper Energy Company 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.