Royal Bank of Canada Boosts Stake in Viper Energy Inc. $VNOM

Key Points

• Royal Bank of Canada increased its holdings in Viper Energy Inc. by 6.6%, acquiring an additional 16,356 shares, bringing its total to 265,571 shares valued at approximately $11.99 million.
• Viper Energy reported earnings of $0.41 per share for the last quarter, exceeding analyst estimates, with revenue up 37.1% year-over-year at $297 million.
• The company recently declared a quarterly dividend of $0.53 per share, yielding 5.4% annually, and has a dividend payout ratio of 38.15%.

Royal Bank of Canada boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,571 shares of the oil and gas producer's stock after acquiring an additional 16,356 shares during the period. Royal Bank of Canada owned 0.12% of Viper Energy worth $11,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 414 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Viper Energy during the first quarter worth $34,000. AlphaQuest LLC purchased a new stake in shares of Viper Energy during the first quarter worth $41,000. Golden State Wealth Management LLC raised its stake in Viper Energy by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 500 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in Viper Energy in the fourth quarter valued at $86,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Price Performance

VNOM stock traded down $1.07 on Monday, reaching $37.50. The company had a trading volume of 1,693,577 shares, compared to its average volume of 1,735,923. The company's fifty day moving average is $38.06 and its 200 day moving average is $40.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15. The company has a market cap of $10.82 billion, a P/E ratio of 10.84, a PEG ratio of 17.26 and a beta of 1.04. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The business's revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, research analysts forecast 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 quarterly dividend, which was paid on Thursday, August 21st. Investors 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 yield of 5.7%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is 38.15%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Securities raised their price target on Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Roth Capital set a $50.00 price objective on Viper Energy and gave the stock a "buy" rating in a report on Tuesday, August 26th. Mizuho dropped their price objective on Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday. Piper Sandler raised their price target on Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Raymond James Financial reissued an "outperform" rating and set a $57.00 price target (down previously from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Viper Energy currently has an average rating of "Buy" and a consensus price target of $55.53.

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.