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Nuveen LLC Takes Position in Viper Energy Inc. $VNOM

Viper Energy logo with Energy background

Key Points

  • Nuveen LLC has acquired a new position in Viper Energy Inc., purchasing approximately 304,841 shares valued at about $13.76 million, representing a 0.14% ownership stake in the company.
  • Despite a recent earnings report showing a quarterly EPS of $0.41 that beat expectations, Viper Energy announced a quarterly dividend of $0.53 per share, with a current dividend yield of 5.7%.
  • Analysts have a generally positive outlook on Viper Energy, with an average target price of $56.36 and 14 analysts rating the stock as a "Buy."
  • Want stock alerts on Viper Energy? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Nuveen LLC purchased a new stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 304,841 shares of the oil and gas producer's stock, valued at approximately $13,764,000. Nuveen LLC owned about 0.14% of Viper Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VNOM. Quarry LP acquired a new position in shares of Viper Energy in the 4th quarter valued at approximately $32,000. UMB Bank n.a. boosted its holdings in shares of Viper Energy by 129.0% in the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after buying 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 valued at approximately $34,000. Golden State Wealth Management LLC lifted its holdings 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 valued at $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in Viper Energy during the 4th quarter valued at $86,000. 87.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VNOM shares. TD Securities lifted their target price on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. decreased their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Barclays lifted their target price on Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Evercore ISI boosted their price target on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Morgan Stanley started coverage on Viper Energy in a research note on Monday. They issued an "overweight" rating and a $46.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Viper Energy presently has an average rating of "Buy" and an average target price of $56.36.

Get Our Latest Stock Report on Viper Energy

Viper Energy Stock Down 0.2%

Shares of NASDAQ:VNOM opened at $37.16 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 business has a fifty day moving average price of $38.24 and a two-hundred day moving average price of $41.26. The company has a market capitalization of $10.72 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 17.32 and a beta of 0.99.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results 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 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 in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 37.1% compared to the same quarter last year. Analysts forecast 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. 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 5.7%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is currently 38.15%.

Viper Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Viper Energy (NASDAQ:VNOM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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