Hodges Capital Management Inc. Makes New Investment in Viper Energy Inc. $VNOM

Key Points

• Hodges Capital Management Inc. purchased 29,925 shares of Viper Energy Inc. (NASDAQ: VNOM), valued at approximately $1.35 million, as per their recent 13F filing.
• Viper Energy reported a net margin of 37.84% and a quarterly revenue of $297 million, exceeding analyst expectations which estimated revenue at $285.35 million.
• The company recently cut its dividend to $0.53 per share, representing a yield of 5.5%, with a payout ratio of 38.15%.

Hodges Capital Management Inc. purchased a new position in Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,925 shares of the oil and gas producer's stock, valued at approximately $1,351,000.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Viper Energy during the 1st quarter worth $34,000. AlphaQuest LLC purchased a new stake in shares of Viper Energy during the 1st quarter worth $41,000. Golden State Wealth Management LLC lifted its position in shares of Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of Viper Energy during the 4th quarter worth $86,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Trading Down 1.1%

NASDAQ VNOM opened at $38.57 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. The firm has a market cap of $11.13 billion, a PE ratio of 11.15, a P/E/G ratio of 17.44 and a beta of 1.04. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. The firm's fifty day moving average is $38.06 and its two-hundred day moving average is $40.11.

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 EPS for the quarter, beating 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 company had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.35 million. During the same period in the previous year, the business posted $0.62 earnings per share. Viper Energy's quarterly revenue was up 37.1% on a year-over-year basis. Analysts expect 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. Shareholders of record on Thursday, August 14th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.5%. The ex-dividend date was Thursday, August 14th. Viper Energy's dividend payout ratio is presently 38.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VNOM. Morgan Stanley began coverage on shares of Viper Energy in a research report on Monday, August 18th. They set an "overweight" rating and a $46.00 price objective for the company. Mizuho lifted their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Bank of America decreased their price objective 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. TD Securities boosted their price target on shares of Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays boosted their price target on shares of Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of "Buy" and an average price target of $55.80.

Viper Energy Company 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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