Strs Ohio Takes Position in Viper Energy Inc. $VNOM

Key Points

• Strs Ohio has invested approximately $1.62 million in Viper Energy Inc. (NASDAQ: VNOM) by acquiring 35,941 shares during the 1st quarter.
• Viper Energy has received mixed price target adjustments from analysts, with the average target price set at $55.53 and a consensus rating of "Buy."
• The company's recent earnings report showed a 37.1% increase in year-over-year revenue, with earnings per share beating analysts' expectations by $0.07.

Strs Ohio bought a new stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,941 shares of the oil and gas producer's stock, valued at approximately $1,623,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Viper Energy by 28.9% during the first quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer's stock valued at $587,708,000 after buying an additional 2,921,832 shares in the last quarter. Wellington Management Group LLP lifted its stake in Viper Energy by 12.2% during the first quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer's stock valued at $539,719,000 after buying an additional 1,301,933 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Viper Energy by 21.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer's stock valued at $451,336,000 after buying an additional 1,778,093 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Viper Energy by 19.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,751,660 shares of the oil and gas producer's stock valued at $124,238,000 after buying an additional 442,235 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Viper Energy by 37.4% during the first quarter. Woodline Partners LP now owns 1,980,786 shares of the oil and gas producer's stock valued at $89,432,000 after buying an additional 539,517 shares in the last quarter. Institutional investors own 87.72% of the company's stock.

Viper Energy Trading Down 1.5%

VNOM traded down $0.56 on Friday, hitting $37.40. The company had a trading volume of 4,335,294 shares, compared to its average volume of 1,735,766. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The company has a market cap of $10.79 billion, a PE ratio of 10.81, a PEG ratio of 16.98 and a beta of 1.04. Viper Energy Inc. has a 12-month low of $34.71 and a 12-month high of $56.76. The business's fifty day simple moving average is $38.09 and its 200 day simple moving average is $39.85.

Viper Energy (NASDAQ:VNOM - Get Free Report) last announced 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. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same quarter last year, the firm earned $0.62 earnings per share. The firm's quarterly revenue was up 37.1% compared to the same quarter last year. Equities research analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is presently 38.15%.

Analyst Ratings Changes

A number of research firms recently commented on VNOM. Evercore ISI increased their price objective on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Bank of America cut their price objective on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Raymond James Financial restated an "outperform" rating and issued a $57.00 target price (down from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Mizuho decreased their target price on Viper Energy from $55.00 to $51.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Piper Sandler lifted their price objective on Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $55.53.

Viper Energy Company 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.