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

Principal Financial Group Inc. boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,575 shares of the oil and gas producer's stock after purchasing an additional 65,375 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Viper Energy worth $13,661,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in VNOM. Quarry LP acquired a new position in shares of Viper Energy during the fourth quarter valued at $32,000. Assetmark Inc. raised its stake in shares of 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 in the last quarter. UMB Bank n.a. raised its stake in shares of 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 in the last quarter. Golden State Wealth Management LLC raised its stake in shares of 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Viper Energy during the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Viper Energy Trading Down 1.5%

NASDAQ VNOM traded down $0.57 on Wednesday, hitting $36.53. 1,266,842 shares of the company were exchanged, compared to its average volume of 1,416,680. The company's 50 day moving average price is $39.94 and its 200-day moving average price is $43.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70. The firm has a market capitalization of $10.54 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 18.22 and a beta of 0.97. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.09. The firm had revenue of $245.00 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.49 EPS. Analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 3.28%. Viper Energy's payout ratio is presently 31.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VNOM. Wall Street Zen upgraded shares of Viper Energy from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. JPMorgan Chase & Co. cut their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Raymond James Financial restated an "outperform" rating and set a $60.00 price objective (up from $54.00) on shares of Viper Energy in a research note on Thursday, June 5th. Wells Fargo & Company lifted their price objective on shares of Viper Energy from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Barclays lifted their price objective on shares of Viper Energy from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

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.