Greenwood Capital Associates LLC Takes $327,000 Position in Viper Energy Inc. $VNOM

Key Points

• Greenwood Capital Associates LLC acquired a new position in Viper Energy Inc., purchasing 8,563 shares valued at approximately $327,000 during the second quarter.
• Viper Energy reported a quarterly EPS of $0.41, exceeding analyst expectations and showing a 37.1% increase in revenue year-over-year.
• Viper Energy's recent dividend of $0.53 per share translates to an annualized yield of 5.4% and a payout ratio of 38.15%.

Greenwood Capital Associates LLC bought a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,563 shares of the oil and gas producer's stock, valued at approximately $327,000.

Other institutional investors have also recently modified their holdings of the company. Swiss National Bank lifted its position 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 valued at $11,160,000 after acquiring an additional 44,700 shares during the period. Principal Financial Group Inc. lifted 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 buying an additional 65,375 shares during the last quarter. Amalgamated Bank lifted its position in shares of Viper Energy by 21.3% during the 1st quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer's stock worth $2,705,000 after buying an additional 10,529 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Viper Energy by 21.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer's stock worth $70,117,000 after buying an additional 271,337 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Viper Energy by 28.7% during the 1st quarter. State of Michigan Retirement System now owns 31,400 shares of the oil and gas producer's stock worth $1,418,000 after buying an additional 7,000 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Price Performance

Shares of VNOM opened at $39.01 on Friday. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 17.01 and a beta of 0.92. The business has a 50-day moving average of $38.30 and a 200-day moving average of $39.61.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same period last year, the company earned $0.62 earnings per share. The firm's revenue was up 37.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Thursday, August 14th. Viper Energy's dividend payout ratio (DPR) is 38.15%.

Analysts Set New Price Targets

Several brokerages recently weighed in on VNOM. Wells Fargo & Company dropped their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Morgan Stanley began coverage on Viper Energy in a research report on Monday, August 18th. They set an "overweight" rating and a $46.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of Viper Energy in a research report on Saturday, September 27th. KeyCorp dropped their price objective on Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Roth Capital set a $50.00 target price on Viper Energy and gave the stock a "buy" rating in a report on Tuesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.27.

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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