600,000 Shares in Viper Energy Inc. (NASDAQ:VNOM) Purchased by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP acquired 600,000 shares of Viper Energy Inc. in Q1, valued at approximately $27 million, making it 18th in their portfolio.
• Viper Energy recently reported earnings of $0.41 per share, exceeding analysts' expectations, with a 37.1% year-over-year revenue increase to $297 million.
• The company announced a dividend of $0.53 per share, to be paid to stockholders on August 21st, with a current payout ratio of 34.68%.

Burkehill Global Management LP acquired a new position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 600,000 shares of the oil and gas producer's stock, valued at approximately $27,090,000. Viper Energy comprises about 2.0% of Burkehill Global Management LP's portfolio, making the stock its 18th biggest holding. Burkehill Global Management LP owned 0.28% of Viper Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Viper Energy during the first quarter worth $13,764,000. Bornite Capital Management LP bought a new stake in Viper Energy during the first quarter worth $22,575,000. Virtu Financial LLC lifted its holdings in Viper Energy by 730.9% during the first quarter. Virtu Financial LLC now owns 38,954 shares of the oil and gas producer's stock worth $1,759,000 after acquiring an additional 34,266 shares during the period. Invesco Ltd. lifted its holdings in Viper Energy by 102.6% during the first quarter. Invesco Ltd. now owns 1,168,306 shares of the oil and gas producer's stock worth $52,749,000 after acquiring an additional 591,669 shares during the period. Finally, Citigroup Inc. lifted its holdings in Viper Energy by 180.4% during the first quarter. Citigroup Inc. now owns 161,956 shares of the oil and gas producer's stock worth $7,312,000 after acquiring an additional 104,206 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Price Performance

Shares of VNOM traded up $0.88 during midday trading on Tuesday, hitting $38.17. 2,038,723 shares of the company traded hands, compared to its average volume of 1,810,388. The stock has a 50-day moving average of $38.71 and a 200-day moving average of $41.67. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. The firm has a market cap of $11.01 billion, a P/E ratio of 11.03, a PEG ratio of 16.91 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15.

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. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%. The firm had revenue of $297.00 million for the quarter, compared to analysts' expectations of $285.35 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company's revenue was up 37.1% on a year-over-year basis. As a group, sell-side analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, August 14th. Viper Energy's payout ratio is presently 34.68%.

Analysts Set New Price Targets

A number of brokerages recently commented on VNOM. Evercore ISI lifted their price target on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. lowered their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen raised Viper Energy from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Finally, Bank of America cut their target price on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.23.

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.