BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in Viper Energy Inc. $VNOM

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Viper Energy Inc. by 95.3%, owning only 1,963 shares after selling 40,164 shares in Q1.
• Viper Energy reported earnings of $0.41 per share, beating estimates and achieving a 37.1% year-over-year revenue increase.
• Bank of America lowered its price objective for Viper Energy from $53.00 to $50.00, while consensus among analysts remains a "Buy" rating with an average target price of $56.36.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 95.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,963 shares of the oil and gas producer's stock after selling 40,164 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Viper Energy were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP grew its stake in Viper Energy by 11.2% in the 1st quarter. Quantbot Technologies LP now owns 103,748 shares of the oil and gas producer's stock worth $4,684,000 after buying an additional 10,481 shares in the last quarter. Wellington Management Group LLP grew its stake in Viper Energy by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer's stock worth $539,719,000 after buying an additional 1,301,933 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Viper Energy by 11.7% in the 1st quarter. Aptus Capital Advisors LLC now owns 297,171 shares of the oil and gas producer's stock worth $13,417,000 after buying an additional 31,173 shares in the last quarter. Northern Trust Corp grew its stake in Viper Energy by 11.8% in the 1st quarter. Northern Trust Corp now owns 967,618 shares of the oil and gas producer's stock worth $43,688,000 after buying an additional 102,125 shares in the last quarter. Finally, RR Advisors LLC grew its stake in Viper Energy by 5.9% in the 1st quarter. RR Advisors LLC now owns 180,000 shares of the oil and gas producer's stock worth $8,132,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Analyst Upgrades and Downgrades

VNOM has been the subject of a number of research reports. Bank of America cut their price objective on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. TD Securities upped their price objective on shares of Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Piper Sandler upped their price objective on shares of Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Evercore ISI upped their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $56.36.

Viper Energy Trading Up 4.9%

Shares of VNOM opened at $38.99 on Monday. The stock has a market capitalization of $11.25 billion, a P/E ratio of 11.27, a PEG ratio of 17.37 and a beta of 0.99. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $38.17 and a two-hundred day simple moving average of $41.07. 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 announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $297.00 million during the quarter, compared to analysts' expectations of $285.35 million. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm's revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. On average, research analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.4%. Viper Energy's dividend payout ratio is presently 38.15%.

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.

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