T. Rowe Price Investment Management Inc. lifted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,751,660 shares of the oil and gas producer's stock after acquiring an additional 442,235 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.29% of Viper Energy worth $124,238,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VNOM. Vanguard Group Inc. grew its holdings 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 worth $587,708,000 after acquiring an additional 2,921,832 shares during the period. Wellington Management Group LLP increased its holdings in shares of Viper Energy by 12.2% during the 1st 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 purchasing an additional 1,301,933 shares in the last quarter. Burkehill Global Management LP acquired a new position in shares of Viper Energy in the 1st quarter valued at $27,090,000. Invesco Ltd. grew its position in Viper Energy by 102.6% during the first quarter. Invesco Ltd. now owns 1,168,306 shares of the oil and gas producer's stock valued at $52,749,000 after buying an additional 591,669 shares during the period. Finally, Bornite Capital Management LP purchased a new position in Viper Energy in the first quarter valued at $22,575,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VNOM has been the topic of a number of research reports. Evercore ISI raised their price target on shares of Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. cut their price objective on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Piper Sandler increased their price objective on Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Barclays lifted their price objective on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company dropped their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Fifteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $56.36.
Check Out Our Latest Research Report on Viper Energy
Viper Energy Price Performance
VNOM stock traded down $0.47 during midday trading on Tuesday, hitting $38.98. 1,695,294 shares of the stock were exchanged, compared to its average volume of 1,720,478. 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 stock has a market cap of $11.25 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 17.37 and a beta of 0.99. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The stock's 50-day moving average price is $38.13 and its 200-day moving average price is $41.00.
Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $285.35 million. During the same quarter last year, the firm posted $0.62 earnings per share. Viper Energy's revenue was up 37.1% on a year-over-year basis. Research analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.
Viper Energy Cuts Dividend
The firm also recently declared 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 of this dividend was Thursday, August 14th. This represents a $2.12 annualized dividend and a dividend yield of 5.4%. Viper Energy's payout ratio is 38.15%.
About Viper Energy
(
Free Report)
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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