Viper Energy Inc. $VNOM Shares Acquired by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC increased its stake in Viper Energy by 25.4%, acquiring an additional 15,099 shares, bringing its total holdings to 74,467 shares worth $3.36 million.
• Viper Energy recently reported earnings of $0.41 per share, exceeding analysts' expectations, and its revenue for the quarter was up 37.1% year-over-year.
• Wall Street analysts maintain a consensus "Buy" rating for Viper Energy, with an average price target of $55.93.

MetLife Investment Management LLC grew its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 25.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,467 shares of the oil and gas producer's stock after acquiring an additional 15,099 shares during the period. MetLife Investment Management LLC's holdings in Viper Energy were worth $3,362,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Viper Energy in the 4th quarter worth approximately $32,000. UMB Bank n.a. lifted its holdings 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 valued at $33,000 after purchasing an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Viper Energy in the 1st quarter worth $34,000. AlphaQuest LLC purchased a new position in Viper Energy during the 1st quarter worth $41,000. Finally, Golden State Wealth Management LLC grew its stake in 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 buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VNOM. Mizuho raised their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. KeyCorp cut their price target 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. Barclays raised their price target on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Raymond James Financial reissued an "outperform" rating and set a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Sixteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $55.80.

Viper Energy Stock Performance

VNOM traded up $1.09 during midday trading on Thursday, hitting $39.19. 1,175,629 shares of the company were exchanged, compared to its average volume of 1,728,206. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 17.81 and a beta of 1.04. The company's 50 day simple moving average is $38.06 and its 200 day simple moving average is $40.61. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $56.76.

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

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 5.4%. The ex-dividend date was Thursday, August 14th. Viper Energy's dividend payout ratio (DPR) is currently 38.15%.

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.