Viper Energy Inc. $VNOM Shares Purchased by Royal Bank of Canada

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 the company in its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after buying an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Viper Energy in the first quarter valued at approximately $34,000. AlphaQuest LLC acquired a new position in shares of Viper Energy in the first quarter valued at $41,000. Golden State Wealth Management LLC grew its holdings in shares of Viper Energy by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Viper Energy in the fourth quarter valued at about $86,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley began coverage on Viper Energy in a research note on Monday, August 18th. They issued an "overweight" rating and a $46.00 price target for the company. William Blair started coverage on Viper Energy in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Mizuho dropped their price target on Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a research note on Monday. KeyCorp lowered their price objective on Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Finally, Roth Capital set a $50.00 target price on Viper Energy and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $55.53.

Viper Energy Stock Performance

Shares of NASDAQ VNOM traded down $0.33 during midday trading on Wednesday, hitting $37.86. 1,016,135 shares of the stock traded hands, compared to its average volume of 1,901,149. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. 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 firm has a market capitalization of $10.92 billion, a P/E ratio of 10.94, a PEG ratio of 17.09 and a beta of 1.04. The firm has a 50-day moving average of $38.10 and a two-hundred day moving average of $39.95.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The business's quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. On average, equities analysts forecast that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a yield of 5.6%. Viper Energy's payout ratio is currently 38.15%.

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.