Amundi Purchases 93,812 Shares of Viper Energy Inc. $VNOM

Key Points

• Amundi significantly increased its stake in Viper Energy Inc. by 12,343.7% in Q1, acquiring a total of 94,572 shares valued at approximately $3.93 million.
• Viper Energy reported earnings of $0.41 per share for the last quarter, exceeding expectations, with a total revenue of $297 million, marking a 37.1% increase from the previous year.
• Despite a recent dividend cut, Viper Energy maintains a competitive dividend yield of 5.4%, with an annualized dividend of $2.12 and a payout ratio of 38.15%.

Amundi lifted its holdings in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 12,343.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,572 shares of the oil and gas producer's stock after buying an additional 93,812 shares during the period. Amundi's holdings in Viper Energy were worth $3,930,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VNOM. Vanguard Group Inc. increased its holdings in shares of Viper Energy by 28.9% in the 1st quarter. Vanguard Group Inc. now owns 13,016,792 shares of the oil and gas producer's stock worth $587,708,000 after buying an additional 2,921,832 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Viper Energy by 21.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,996,351 shares of the oil and gas producer's stock worth $451,336,000 after acquiring an additional 1,778,093 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Viper Energy by 763.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,799,642 shares of the oil and gas producer's stock worth $81,254,000 after acquiring an additional 1,591,212 shares during the last quarter. Wellington Management Group LLP increased its stake in Viper Energy by 12.2% during the first quarter. Wellington Management Group LLP now owns 11,953,910 shares of the oil and gas producer's stock worth $539,719,000 after acquiring an additional 1,301,933 shares during the last quarter. Finally, Burkehill Global Management LP bought a new stake in Viper Energy during the first quarter worth approximately $27,090,000. 87.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Viper Energy from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Roth Capital set a $50.00 price objective on shares of Viper Energy and gave the company a "buy" rating in a research report on Tuesday, August 26th. Bank of America cut their price objective on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Mizuho cut their price objective on shares of Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, TD Securities upped their price target on shares of Viper Energy from $57.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $55.53.

Viper Energy Trading Down 0.9%

Shares of NASDAQ VNOM traded down $0.33 during mid-day trading on Wednesday, reaching $37.86. The company had a trading volume of 1,016,135 shares, compared to its average volume of 1,901,149. The business's 50-day moving average is $38.10 and its 200-day moving average is $39.95. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 17.09 and a beta of 1.04. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $56.76.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million for the quarter, compared to analysts' expectations of $285.35 million. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business's revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Equities analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.6%. Viper Energy's dividend payout ratio is 38.15%.

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.