Stephens Investment Management Group LLC Reduces Stock Position in Viper Energy Inc. $VNOM

Key Points

• Stephens Investment Management Group LLC reduced its stock position in Viper Energy Inc. by 24.4% during the 2nd quarter, holding approximately 1,174,477 shares worth $44.78 million after selling 378,497 shares.
• Viper Energy reported a quarterly EPS of $0.41, exceeding analysts' estimates, with a revenue of $297 million, which is a 37.1% increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.53 per share, representing an annualized total of $2.12 and a dividend yield of 5.7%.

Stephens Investment Management Group LLC lessened its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 24.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,174,477 shares of the oil and gas producer's stock after selling 378,497 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.41% of Viper Energy worth $44,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Viper Energy during the 1st quarter worth $34,000. AlphaQuest LLC purchased a new position in shares of Viper Energy during the 1st quarter worth $41,000. Golden State Wealth Management LLC boosted its stake in shares of Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after acquiring an additional 500 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Viper Energy by 65.6% during the 2nd quarter. UMB Bank n.a. now owns 1,217 shares of the oil and gas producer's stock worth $46,000 after acquiring an additional 482 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Viper Energy by 39.1% during the 1st quarter. US Bancorp DE now owns 1,965 shares of the oil and gas producer's stock worth $89,000 after acquiring an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $37.22 on Wednesday. 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 $10.74 billion, a P/E ratio of 10.76, a P/E/G ratio of 15.98 and a beta of 0.92. The firm's fifty day moving average is $38.20 and its two-hundred day moving average is $38.99. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The company 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 37.84% and a return on equity of 3.92%. Viper Energy's revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. As a group, analysts anticipate 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. Stockholders of record on Thursday, August 14th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.7%. Viper Energy's payout ratio is 38.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VNOM shares. Piper Sandler lifted their price target on shares of Viper Energy from $66.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wells Fargo & Company lifted their target price on shares of Viper Energy from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Saturday. TD Securities set a $54.00 target price on shares of Viper Energy in a research note on Tuesday, September 30th. Finally, Morgan Stanley lowered their target price on shares of Viper Energy from $46.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.21.

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.

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