Viper Energy Inc. (NASDAQ:VNOM) Stake Raised by SCP Investment LP

Key Points

• SCP Investment LP increased its stake in Viper Energy Inc. by 287%, owning 41,800 shares valued at approximately $1.89 million.
• Multiple institutional investors have also adjusted their positions in Viper Energy, with 87.72% of the company's stock now held by hedge funds and institutions.
• Viper Energy declared a quarterly dividend of $0.30 per share, resulting in an annualized yield of 3.3% and a payout ratio of 31.58%.

SCP Investment LP lifted its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 287.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,800 shares of the oil and gas producer's stock after buying an additional 31,000 shares during the quarter. Viper Energy makes up 1.6% of SCP Investment LP's holdings, making the stock its 11th largest holding. SCP Investment LP's holdings in Viper Energy were worth $1,887,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Viper Energy by 1.1% during the 4th quarter. American Century Companies Inc. now owns 25,323 shares of the oil and gas producer's stock worth $1,243,000 after buying an additional 268 shares during the last quarter. LPL Financial LLC grew its position in Viper Energy by 19.4% during the fourth quarter. LPL Financial LLC now owns 87,033 shares of the oil and gas producer's stock valued at $4,271,000 after acquiring an additional 14,118 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Viper Energy by 3.4% during the fourth quarter. JPMorgan Chase & Co. now owns 173,265 shares of the oil and gas producer's stock worth $8,502,000 after purchasing an additional 5,750 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Viper Energy by 6.9% during the fourth quarter. Franklin Resources Inc. now owns 71,945 shares of the oil and gas producer's stock worth $3,530,000 after purchasing an additional 4,620 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Viper Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,733,745 shares of the oil and gas producer's stock worth $85,102,000 after purchasing an additional 35,084 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Stock Down 1.1%

Shares of VNOM traded down $0.43 during mid-day trading on Tuesday, hitting $37.07. The company's stock had a trading volume of 911,487 shares, compared to its average volume of 1,588,084. The company's 50-day moving average is $39.00 and its 200-day moving average is $42.10. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 16.43 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 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 (NASDAQ:VNOM - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $285.35 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. The firm'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 research analysts forecast 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. Investors of record on Thursday, May 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 3.2%. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Analyst Upgrades and Downgrades

VNOM has been the subject of several recent research reports. KeyCorp lowered their target price on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho upped their target price on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company increased their price objective on Viper Energy from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Barclays increased their price objective on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $57.23.

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.