TD Asset Management Inc cut its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831,119 shares of the oil and gas producer's stock after selling 36,177 shares during the period. TD Asset Management Inc owned 0.39% of Viper Energy worth $37,525,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Freestone Grove Partners LP purchased a new position in Viper Energy in the 4th quarter valued at $19,469,000. T. Rowe Price Investment Management Inc. grew its position in Viper Energy by 20.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer's stock valued at $113,324,000 after buying an additional 389,473 shares during the last quarter. Invesco Ltd. grew its position in Viper Energy by 164.3% in the 4th quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer's stock valued at $28,296,000 after buying an additional 358,487 shares during the last quarter. FIL Ltd grew its position in Viper Energy by 8.5% in the 4th quarter. FIL Ltd now owns 3,964,130 shares of the oil and gas producer's stock valued at $194,520,000 after buying an additional 310,890 shares during the last quarter. Finally, GW&K Investment Management LLC grew its position in Viper Energy by 36.0% in the 1st quarter. GW&K Investment Management LLC now owns 1,072,101 shares of the oil and gas producer's stock valued at $48,405,000 after buying an additional 283,628 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on VNOM. Evercore ISI raised their target price on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. cut their price target on Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. KeyCorp cut their price target on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Mizuho lifted their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Bank of America cut their price target on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and an average price target of $57.23.
Check Out Our Latest Stock Report on VNOM
Viper Energy Stock Down 3.7%
Shares of VNOM traded down $1.39 during trading on Friday, reaching $36.27. The company's stock had a trading volume of 1,375,130 shares, compared to its average volume of 1,585,393. The company has a fifty day moving average of $39.11 and a two-hundred day moving average of $42.42. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 16.91 and a beta of 0.97. The company has a quick ratio of 8.70, a current ratio of 8.70 and a debt-to-equity ratio of 0.15.
Viper Energy (NASDAQ:VNOM - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.
Viper Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is 31.58%.
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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