Viper Energy Inc. $VNOM Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Viper Energy Inc. by 11.8% during the first quarter, holding approximately 0.45% of the company valued at $43.7 million.
• Viper Energy reported a quarterly EPS of $0.41, exceeding analysts' estimates of $0.34, with revenues reaching $297 million—up 37.1% year-over-year.
• The company has recently cut its dividend to $0.53 per share, representing an annualized yield of 5.3% and a dividend payout ratio of 38.15%.

Northern Trust Corp boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 967,618 shares of the oil and gas producer's stock after purchasing an additional 102,125 shares during the quarter. Northern Trust Corp owned about 0.45% of Viper Energy worth $43,688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. RR Advisors LLC boosted its holdings in Viper Energy by 5.9% in the first quarter. RR Advisors LLC now owns 180,000 shares of the oil and gas producer's stock valued at $8,132,000 after purchasing an additional 10,000 shares in the last quarter. American Century Companies Inc. boosted its holdings in Viper Energy by 3.5% in the first quarter. American Century Companies Inc. now owns 26,214 shares of the oil and gas producer's stock valued at $1,184,000 after purchasing an additional 891 shares in the last quarter. Seven Grand Managers LLC acquired a new stake in shares of Viper Energy in the first quarter valued at approximately $9,030,000. Boston Partners boosted its holdings in shares of Viper Energy by 8.8% in the first quarter. Boston Partners now owns 1,705,390 shares of the oil and gas producer's stock valued at $75,852,000 after acquiring an additional 137,441 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Viper Energy by 736.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,101 shares of the oil and gas producer's stock valued at $185,000 after acquiring an additional 3,611 shares during the period. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Price Performance

NASDAQ:VNOM traded up $0.05 during trading hours on Tuesday, hitting $39.90. The company's stock had a trading volume of 1,341,025 shares, compared to its average volume of 1,723,015. The business's 50-day moving average is $38.04 and its two-hundred day moving average is $40.63. The company has a market capitalization of $11.51 billion, a PE ratio of 11.53, a PEG ratio of 17.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76.

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

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.3%. Viper Energy's dividend payout ratio is 38.15%.

Analyst Ratings Changes

VNOM has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Morgan Stanley initiated coverage on Viper Energy in a report on Monday, August 18th. They issued an "overweight" rating and a $46.00 price objective for the company. Evercore ISI increased their price objective on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Piper Sandler upped their price target on Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, William Blair began coverage on Viper Energy in a research note on Monday, August 25th. They set an "outperform" rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Viper Energy presently has a consensus rating of "Buy" and a consensus price target of $55.93.

About Viper Energy

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.