Viper Energy Inc. (NASDAQ:VNOM) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,575 shares of the oil and gas producer's stock after buying an additional 65,375 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Viper Energy worth $13,661,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VNOM. Quarry LP acquired a new position in Viper Energy during the fourth quarter valued at approximately $32,000. Assetmark Inc. grew its holdings in Viper Energy by 321.7% during the fourth quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 518 shares during the last quarter. UMB Bank n.a. grew its holdings in Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 414 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Viper Energy by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Viper Energy during the fourth quarter valued at approximately $55,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VNOM shares. JPMorgan Chase & Co. reduced 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. Mizuho increased their price objective on Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Wall Street Zen raised Viper Energy from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. Evercore ISI increased their price objective on Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler reduced their price objective on Viper Energy from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Viper Energy Price Performance

Viper Energy stock opened at $38.57 on Friday. The firm has a market capitalization of $11.13 billion, a P/E ratio of 10.15, a PEG ratio of 18.72 and a beta of 0.97. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The business has a 50-day moving average of $40.07 and a 200-day moving average of $43.53. The company has a current ratio of 8.70, a quick ratio of 8.70 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released 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. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. The business had revenue of $245.00 million for the quarter, compared to analysts' expectations of $233.99 million. During the same quarter in the previous year, the business posted $0.49 EPS. On average, equities analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, May 15th. Viper Energy's payout ratio is 31.58%.

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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