Epoch Investment Partners Inc. Sells 62,950 Shares of Viper Energy Inc. $VNOM

Key Points

• Epoch Investment Partners trimmed its Viper Energy stake by 3.9% in the first quarter, selling 62,950 shares and leaving it with 1,560,392 shares valued at about $73.3 million.
• Viper Energy reported strong quarterly results, posting EPS of $0.55 versus $0.43 expected and revenue of $511 million, which was above analyst estimates and up 108.6% from a year earlier.
• The company also paid a quarterly dividend of $0.38 per share, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $57.57.

Epoch Investment Partners Inc. reduced its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,560,392 shares of the oil and gas producer's stock after selling 62,950 shares during the period. Epoch Investment Partners Inc. owned 0.43% of Viper Energy worth $73,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Encompass Capital Advisors LLC bought a new stake in shares of Viper Energy during the 4th quarter valued at $52,087,000. Wellington Management Group LLP boosted its stake in Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer's stock worth $443,918,000 after acquiring an additional 1,144,863 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in Viper Energy in the fourth quarter worth about $42,550,000. Balyasny Asset Management L.P. grew its holdings in Viper Energy by 7,413.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer's stock worth $42,417,000 after purchasing an additional 1,095,052 shares during the period. Finally, Ninepoint Partners LP increased its stake in shares of Viper Energy by 700.0% during the fourth quarter. Ninepoint Partners LP now owns 1,200,000 shares of the oil and gas producer's stock valued at $46,356,000 after purchasing an additional 1,050,000 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Performance

Shares of VNOM opened at $45.14 on Friday. The business's fifty day simple moving average is $44.29 and its two-hundred day simple moving average is $44.28. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.15. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a market cap of $16.21 billion, a price-to-earnings ratio of -141.06 and a beta of 0.40.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $499.81 million. During the same quarter last year, the company earned $0.54 EPS. The company's quarterly revenue was up 108.6% compared to the same quarter last year. Research analysts anticipate that Viper Energy Inc. will post 2.42 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. Viper Energy's dividend payout ratio (DPR) is presently -475.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Viper Energy in a research report on Friday, May 29th. They issued an "outperform" rating and a $58.00 price target on the stock. Zacks Research lowered Viper Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 10th. Roth Capital set a $52.00 price objective on Viper Energy in a research note on Wednesday, July 15th. Citigroup boosted their target price on Viper Energy from $52.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Finally, Barclays increased their target price on Viper Energy from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.57.

Viper Energy Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

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