RR Advisors LLC Grows Stock Position in Viper Energy Inc. $VNOM

Key Points

• RR Advisors LLC increased its stake in Viper Energy Inc. by 5.9%, acquiring an additional 10,000 shares to hold a total of 180,000 shares worth $8,132,000.
• Recently, several analysts have upgraded Viper Energy's rating, with TD Securities and Barclays raising their price targets, and the company is currently rated as a "Moderate Buy" by analysts.
• Viper Energy recently announced a quarterly dividend of $0.53 per share, reflecting an annualized yield of 5.5%, with a dividend payout ratio of 34.68%.

RR Advisors LLC raised its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 180,000 shares of the oil and gas producer's stock after purchasing an additional 10,000 shares during the quarter. Viper Energy accounts for approximately 1.9% of RR Advisors LLC's holdings, making the stock its 13th biggest position. RR Advisors LLC owned about 0.08% of Viper Energy worth $8,132,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Viper Energy by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 115,370 shares of the oil and gas producer's stock valued at $5,661,000 after acquiring an additional 11,493 shares during the period. Bank of Montreal Can grew its stake in shares of Viper Energy by 20.1% during the 4th quarter. Bank of Montreal Can now owns 14,253 shares of the oil and gas producer's stock valued at $699,000 after acquiring an additional 2,390 shares during the period. Invesco Ltd. grew its stake in shares of Viper Energy by 164.3% during the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock valued at $28,296,000 after acquiring an additional 358,487 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Viper Energy by 2.1% during the 4th quarter. Treasurer of the State of North Carolina now owns 45,220 shares of the oil and gas producer's stock valued at $2,219,000 after acquiring an additional 950 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of Viper Energy by 48.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,789 shares of the oil and gas producer's stock valued at $235,000 after acquiring an additional 1,563 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VNOM shares. Wall Street Zen downgraded Viper Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Raymond James Financial reissued an "outperform" rating and issued a $57.00 price target (down from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. TD Securities boosted their price target on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Mizuho boosted their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company lowered their price target on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday. One investment 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 a consensus price target of $57.15.

Viper Energy Price Performance

Shares of VNOM traded down $0.64 during mid-day trading on Friday, hitting $37.79. 2,293,711 shares of the stock were exchanged, compared to its average volume of 1,991,963. The company has a market cap of $10.90 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 17.58 and a beta of 0.99. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76. The firm has a 50-day moving average of $38.57 and a two-hundred day moving average of $41.46. 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $297.00 million for the quarter, compared to analysts' expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%. The company'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 earned $0.62 EPS. On average, equities analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.6%. The ex-dividend date is Thursday, August 14th. Viper Energy's dividend payout ratio is presently 38.15%.

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.