Evergreen Capital Management LLC Lowers Stock Position in Viper Energy Inc. $VNOM

Key Points

• Evergreen Capital Management LLC reduced its holdings in Viper Energy Inc. by 13.9%, selling 10,445 shares during the first quarter, leaving them with 64,655 shares valued at approximately $2.9 million.
• Multiple hedge funds adjusted their positions in Viper Energy, with notable increases, including UMB Bank n.a. boosting its stake by 129% in the first quarter.
• Viper Energy reported a net income of $0.41 EPS for the last quarter, exceeding analyst expectations, and indicated revenue growth of 37.1% year-over-year.

Evergreen Capital Management LLC decreased its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,655 shares of the oil and gas producer's stock after selling 10,445 shares during the period. Evergreen Capital Management LLC's holdings in Viper Energy were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC increased its holdings in shares of Viper Energy by 1.4% in the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer's stock valued at $816,000 after purchasing an additional 249 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of Viper Energy by 3.9% in the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer's stock valued at $430,000 after buying an additional 360 shares during the period. Private Advisor Group LLC grew its stake in Viper Energy by 5.1% in the first quarter. Private Advisor Group LLC now owns 8,260 shares of the oil and gas producer's stock valued at $373,000 after acquiring an additional 398 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Viper Energy by 1.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 20,861 shares of the oil and gas producer's stock valued at $942,000 after purchasing an additional 399 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 414 shares during the period. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

Shares of VNOM traded down $1.45 during mid-day trading on Wednesday, reaching $38.10. 1,869,866 shares of the stock traded hands, compared to its average volume of 1,729,786. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 17.81 and a beta of 1.04. The firm has a fifty day moving average price of $38.06 and a 200 day moving average price of $40.63.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the company earned $0.62 EPS. The business's quarterly revenue was up 37.1% compared to the same quarter last year. As a group, equities research analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VNOM shares. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price target (down previously from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Morgan Stanley started coverage on Viper Energy in a report on Monday, August 18th. They set an "overweight" rating and a $46.00 target price for the company. Barclays lifted their price objective on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Evercore ISI raised their price objective on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Piper Sandler lifted their price target on Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.80.

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.