TD Asset Management Inc Has $34.68 Million Stock Position in Viper Energy Inc. $VNOM

Key Points

• TD Asset Management cut its stake in Viper Energy by 14.8% in the fourth quarter, but still held 897,677 shares valued at about $34.7 million.
• Viper Energy reported better-than-expected quarterly results, with EPS of $0.55 versus $0.43 expected and revenue of $511 million, up 108.6% year over year.
• The company also declared a quarterly dividend of $0.38 per share and has a Street consensus rating of Buy, with analysts' average price target at $58.38.

TD Asset Management Inc reduced its position in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 897,677 shares of the oil and gas producer's stock after selling 156,191 shares during the period. TD Asset Management Inc owned about 0.25% of Viper Energy worth $34,677,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of VNOM. Oaktree Capital Management LP acquired a new stake in Viper Energy in the 3rd quarter valued at about $240,215,000. Vanguard Group Inc. lifted its stake in Viper Energy by 28.0% in the 3rd quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer's stock valued at $646,180,000 after purchasing an additional 3,699,141 shares during the last quarter. Capital World Investors lifted its stake in Viper Energy by 18.7% in the 3rd quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer's stock valued at $474,821,000 after purchasing an additional 1,957,417 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Viper Energy by 452.4% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,661,991 shares of the oil and gas producer's stock valued at $63,521,000 after purchasing an additional 1,361,130 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Viper Energy by 7,413.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,109,824 shares of the oil and gas producer's stock valued at $42,417,000 after purchasing an additional 1,095,052 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Trading Down 2.0%

Shares of VNOM stock opened at $45.46 on Friday. The firm has a 50 day moving average price of $46.93 and a two-hundred day moving average price of $43.05. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $16.32 billion, a PE ratio of -142.06 and a beta of 0.38. Viper Energy Inc. has a 12-month low of $35.10 and a 12-month high of $51.13.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $499.82 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business's revenue for the quarter was up 108.6% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. As a group, analysts predict that Viper Energy Inc. will post 2.5 earnings per share for the current year.

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.3%. Viper Energy's dividend payout ratio (DPR) is currently -475.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VNOM. Jefferies Financial Group upgraded shares of Viper Energy from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Monday, April 13th. TD Securities raised their target price on shares of Viper Energy from $54.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Truist Financial set a $58.00 price target on shares of Viper Energy in a report on Wednesday, May 6th. Roth Mkm restated a "buy" rating and set a $54.00 price objective on shares of Viper Energy in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Viper Energy from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of "Buy" and an average target price of $58.38.

Viper Energy Profile

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership's assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.

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