Empowered Funds LLC Has $3.72 Million Holdings in Viper Energy Inc. $VNOM

Key Points

• Empowered Funds LLC sold 18,343 shares of Viper Energy Inc. in Q1, reducing its stake by 18.2%, leaving it with 82,290 shares valued at approximately $3.7 million.
• Viper Energy reported Q2 earnings of $0.41 per share, surpassing estimates of $0.34, with a revenue increase of 37.1% year-over-year.
• The company's recent quarterly dividend was set at $0.53, translating to a 5.5% annual yield, with a payout ratio of 38.15%.

Empowered Funds LLC decreased its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,290 shares of the oil and gas producer's stock after selling 18,343 shares during the quarter. Empowered Funds LLC's holdings in Viper Energy were worth $3,715,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Swiss National Bank lifted its holdings in shares of Viper Energy by 22.1% during the 1st quarter. Swiss National Bank now owns 247,177 shares of the oil and gas producer's stock worth $11,160,000 after acquiring an additional 44,700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Viper Energy during the 4th quarter worth about $1,701,000. Principal Financial Group Inc. increased its position 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 worth $13,661,000 after purchasing an additional 65,375 shares in the last quarter. Amalgamated Bank increased its position in Viper Energy by 21.3% in the 1st quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer's stock valued at $2,705,000 after acquiring an additional 10,529 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in Viper Energy by 21.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer's stock valued at $70,117,000 after acquiring an additional 271,337 shares in the last quarter. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Performance

Shares of Viper Energy stock traded up $0.22 during trading on Thursday, reaching $38.08. The company's stock had a trading volume of 483,293 shares, compared to its average volume of 1,724,478. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $56.76. The business's 50-day moving average price is $38.10 and its 200-day moving average price is $39.95. 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 market cap of $10.99 billion, a PE ratio of 11.00, a P/E/G ratio of 17.09 and a beta of 1.04.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business had revenue of $297.00 million during the quarter, compared to analysts' expectations of $285.35 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. Viper Energy's revenue was up 37.1% compared to the same quarter last year. Equities analysts forecast that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 annualized dividend and a dividend yield of 5.6%. Viper Energy's dividend payout ratio is currently 38.15%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VNOM. KeyCorp reduced their target price on shares of Viper Energy from $56.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Evercore ISI lifted their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wells Fargo & Company reduced their price objective on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, Mizuho lowered their price objective on shares of Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday. Sixteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Viper Energy presently has an average rating of "Buy" and an average target price of $55.53.

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.