Pacific Heights Asset Management LLC Raises Stock Position in Viper Energy Inc. $VNOM

Key Points

• Pacific Heights Asset Management LLC increased its stake in Viper Energy Inc. by 20%, owning 300,000 shares after purchasing an additional 50,000 shares in the second quarter, valuing its holdings at approximately $11.44 million.
• Viper Energy reported $0.41 earnings per share for the last quarter, surpassing analysts' expectations of $0.34, along with a revenue of $297 million, reflecting a 37.1% year-over-year increase.
• The company announced a quarterly dividend of $0.53 per share, resulting in an annualized dividend yield of 5.7%, while its dividend payout ratio stands at 38.15%.

Pacific Heights Asset Management LLC boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the oil and gas producer's stock after purchasing an additional 50,000 shares during the quarter. Pacific Heights Asset Management LLC owned about 0.10% of Viper Energy worth $11,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kestra Advisory Services LLC raised its position in Viper Energy by 1.4% in the 1st quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer's stock valued at $816,000 after purchasing an additional 249 shares during the last quarter. Private Advisor Group LLC raised its position in Viper Energy by 5.1% in the 1st quarter. Private Advisor Group LLC now owns 8,260 shares of the oil and gas producer's stock valued at $373,000 after purchasing an additional 398 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Viper Energy by 1.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 20,861 shares of the oil and gas producer's stock valued at $942,000 after purchasing an additional 399 shares during the last quarter. UMB Bank n.a. raised its position in Viper Energy by 65.6% in the 2nd quarter. UMB Bank n.a. now owns 1,217 shares of the oil and gas producer's stock valued at $46,000 after purchasing an additional 482 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Viper Energy by 8.2% in the 1st quarter. HB Wealth Management LLC now owns 6,405 shares of the oil and gas producer's stock valued at $289,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $37.22 on Wednesday. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The stock has a market cap of $10.74 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 15.98 and a beta of 0.92. The firm's fifty day simple moving average is $38.20 and its 200-day simple moving average is $38.99.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping 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 business had revenue of $297.00 million for the quarter, compared to analysts' expectations of $285.35 million. During the same period in the prior year, the company posted $0.62 EPS. The business's revenue for the quarter 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 fiscal year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.7%. Viper Energy's dividend payout ratio is 38.15%.

Analyst Upgrades and Downgrades

Several analysts recently commented on VNOM shares. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the company a "buy" rating in a research report on Tuesday, August 26th. Weiss Ratings restated a "hold (c)" rating on shares of Viper Energy in a research report on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating and set a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. KeyCorp cut their price objective on shares of Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Barclays cut their price objective on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Viper Energy currently has an average rating of "Moderate Buy" and an average target price of $55.21.

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.

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