Regal Partners Ltd Takes Position in Viper Energy Inc. (NASDAQ:VNOM)

Key Points

• Regal Partners Ltd has acquired a new stake in Viper Energy Inc., purchasing 55,162 shares valued at approximately $2.49 million, making Viper Energy its 29th largest position.
• Viper Energy reported $0.41 earnings per share (EPS) for the recent quarter, exceeding consensus estimates, and experienced a 37.1% increase in revenue year-over-year.
• Despite the solid earnings, Viper Energy has cut its dividend to $0.53 per share, with an ex-dividend date set for August 14th.

Regal Partners Ltd purchased a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 55,162 shares of the oil and gas producer's stock, valued at approximately $2,491,000. Viper Energy makes up approximately 0.3% of Regal Partners Ltd's portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. HighTower Advisors LLC bought a new stake in Viper Energy in the first quarter worth $316,000. Burkehill Global Management LP bought a new stake in Viper Energy in the first quarter worth $27,090,000. Nuveen LLC bought a new stake in Viper Energy in the first quarter worth $13,764,000. Bornite Capital Management LP bought a new stake in Viper Energy in the first quarter worth $22,575,000. Finally, Virtu Financial LLC boosted its holdings in Viper Energy by 730.9% in the first quarter. Virtu Financial LLC now owns 38,954 shares of the oil and gas producer's stock worth $1,759,000 after purchasing an additional 34,266 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Stock Up 2.4%

Shares of VNOM opened at $38.17 on Wednesday. The company has a 50-day simple moving average of $38.71 and a 200-day simple moving average of $41.67. The firm has a market capitalization of $11.01 billion, a P/E ratio of 11.03, a P/E/G ratio of 16.91 and a beta of 0.99. 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 posted its quarterly earnings results 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. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.35 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The company's quarterly revenue was up 37.1% compared to the same quarter last year. On average, equities research analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 14th. Viper Energy's dividend payout ratio is 34.68%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VNOM. Raymond James Financial reiterated an "outperform" rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Wall Street Zen raised shares of Viper Energy from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. TD Securities boosted their target price on shares of Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Mizuho boosted their target price on shares of Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Barclays boosted their target price on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.23.

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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