Mutual of America Capital Management LLC Increases Holdings in Viper Energy Inc. (NASDAQ:VNOM)

Key Points

• Mutual of America Capital Management LLC increased its stake in Viper Energy Inc. by 24.2%, acquiring an additional 13,187 shares, bringing its total holdings to 67,583 shares worth approximately $3,051,000.
• Despite a recent dividend cut, Viper Energy announced a dividend of $0.53, with a payout ratio of 34.68%, set to be paid on August 21st to stockholders on record by August 14th.
• Viper Energy reported a quarterly EPS of $0.41, surpassing estimates and showing a year-over-year revenue increase of 37.1%, with projected earnings per share of 2.02 for the current fiscal year.

Mutual of America Capital Management LLC raised its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,583 shares of the oil and gas producer's stock after purchasing an additional 13,187 shares during the quarter. Mutual of America Capital Management LLC's holdings in Viper Energy were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Viper Energy by 3.4% during the 4th quarter. JPMorgan Chase & Co. now owns 173,265 shares of the oil and gas producer's stock worth $8,502,000 after acquiring an additional 5,750 shares during the period. Franklin Resources Inc. grew its stake in shares of Viper Energy by 6.9% during the 4th quarter. Franklin Resources Inc. now owns 71,945 shares of the oil and gas producer's stock worth $3,530,000 after acquiring an additional 4,620 shares during the period. Wells Fargo & Company MN grew its stake in shares of Viper Energy by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 115,370 shares of the oil and gas producer's stock worth $5,661,000 after acquiring an additional 11,493 shares during the period. Bank of Montreal Can grew its stake in shares of Viper Energy by 20.1% during the 4th quarter. Bank of Montreal Can now owns 14,253 shares of the oil and gas producer's stock worth $699,000 after acquiring an additional 2,390 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Viper Energy by 164.3% during the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock worth $28,296,000 after acquiring an additional 358,487 shares during the period. Institutional investors own 87.72% of the company's stock.

Analysts Set New Price Targets

VNOM has been the subject of several research reports. TD Securities increased their price target on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Mizuho increased their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and issued a $57.00 target price (down previously from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Piper Sandler raised their target price on Viper Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, KeyCorp cut their target price on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.23.

Viper Energy Price Performance

Shares of NASDAQ:VNOM traded up $0.88 on Tuesday, hitting $38.17. The company's stock had a trading volume of 2,038,723 shares, compared to its average volume of 1,810,388. The company has a 50-day simple moving average of $38.71 and a 200 day simple moving average of $41.67. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The company has a market capitalization of $11.01 billion, a PE ratio of 11.03, a PEG ratio of 16.91 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15.

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 earnings per share for the quarter, beating 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 analysts' expectations of $285.35 million. During the same quarter last year, the firm posted $0.62 EPS. The company's revenue was up 37.1% compared to the same quarter last year. Sell-side analysts forecast that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 14th. Viper Energy's dividend payout ratio (DPR) is currently 34.68%.

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.