Retirement Systems of Alabama Has $15.31 Million Position in Viper Energy Inc. (NASDAQ:VNOM)

Retirement Systems of Alabama boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 21.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 339,124 shares of the oil and gas producer's stock after acquiring an additional 60,112 shares during the period. Retirement Systems of Alabama owned 0.16% of Viper Energy worth $15,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in VNOM. Vanguard Group Inc. increased its holdings in shares of Viper Energy by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 10,094,960 shares of the oil and gas producer's stock valued at $495,360,000 after purchasing an additional 239,404 shares during the last quarter. FIL Ltd boosted its holdings in shares of Viper Energy by 8.5% during the 4th quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer's stock worth $194,520,000 after buying an additional 310,890 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Viper Energy by 20.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer's stock valued at $113,324,000 after buying an additional 389,473 shares during the last quarter. Raymond James Financial Inc. bought a new position in Viper Energy in the 4th quarter valued at about $95,505,000. Finally, Geode Capital Management LLC raised its holdings in Viper Energy by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,733,745 shares of the oil and gas producer's stock valued at $85,102,000 after acquiring an additional 35,084 shares during the period. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Price Performance

Viper Energy stock traded down $0.49 during trading hours on Wednesday, reaching $38.10. 1,553,932 shares of the stock were exchanged, compared to its average volume of 1,380,171. The company has a current ratio of 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a market cap of $10.99 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 18.47 and a beta of 1.00. The stock has a 50 day moving average of $40.85 and a two-hundred day moving average of $44.57.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same quarter in the prior year, the firm posted $0.49 EPS. Equities analysts expect that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. Viper Energy's payout ratio is 31.58%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VNOM. Mizuho upped their target price on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Bank of America reduced their price target on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. The Goldman Sachs Group set a $72.00 price objective on Viper Energy in a research report on Monday, March 3rd. Wells Fargo & Company boosted their target price on shares of Viper Energy from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Viper Energy from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.00.

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.