Viper Energy Inc. (NASDAQ:VNOM) Shares Sold by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services LLC reduced its stake in Viper Energy Inc. by 62.3% during the first quarter, leaving them with 4,945 shares valued at $223,000.
• Viper Energy reported earnings per share (EPS) of $0.54 for the last quarter, exceeding analysts' expectations of $0.45, alongside a revenue of $245 million.
• The company declared a quarterly dividend of $0.30, equating to an annualized yield of 3.15%, with a current payout ratio of 31.58%.

Kestra Private Wealth Services LLC cut its stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 62.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,945 shares of the oil and gas producer's stock after selling 8,183 shares during the period. Kestra Private Wealth Services LLC's holdings in Viper Energy were worth $223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in Viper Energy in the 4th quarter valued at about $32,000. UMB Bank n.a. increased its position 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 worth $33,000 after purchasing an additional 414 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Viper Energy in the 1st quarter valued at $34,000. Golden State Wealth Management LLC lifted its holdings in Viper Energy by 100.0% in the 1st 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, Covestor Ltd boosted its stake in Viper Energy by 8,100.0% during the 4th quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,296 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on VNOM. JPMorgan Chase & Co. lowered their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Barclays lifted their target price on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Raymond James Financial restated an "outperform" rating and set a $60.00 price target (up previously from $54.00) on shares of Viper Energy in a report on Thursday, June 5th. Mizuho increased their price objective on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler lifted their price target on shares of Viper Energy from $65.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.46.

Viper Energy Stock Performance

Shares of VNOM opened at $38.09 on Tuesday. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The stock has a market capitalization of $10.99 billion, a PE ratio of 10.02, a PEG ratio of 17.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.70 and a current ratio of 8.70. The stock has a 50-day simple moving average of $39.29 and a 200-day simple moving average of $42.57.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio is presently 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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