Viper Energy Inc. $VNOM Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Viper Energy by 44.5%, owning 1,201,250 shares worth approximately $45.8 million as of the latest reporting period.
• Research firms have adjusted their price targets for Viper Energy, with Morgan Stanley lowering its target to $45.00 but still maintaining an "overweight" rating.
• Viper Energy reported a net margin of 37.84% and a revenue increase of 37.1% year-over-year, beating analysts' consensus estimates in its latest earnings report.

TD Asset Management Inc boosted its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 44.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,201,250 shares of the oil and gas producer's stock after acquiring an additional 370,131 shares during the period. TD Asset Management Inc owned about 0.42% of Viper Energy worth $45,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Viper Energy during the first quarter worth about $34,000. AlphaQuest LLC acquired a new position in Viper Energy during the first quarter worth about $41,000. Golden State Wealth Management LLC raised its position 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 worth $45,000 after acquiring an additional 500 shares during the last quarter. UMB Bank n.a. raised its position in Viper Energy by 65.6% during the second quarter. UMB Bank n.a. now owns 1,217 shares of the oil and gas producer's stock worth $46,000 after acquiring an additional 482 shares during the last quarter. Finally, US Bancorp DE raised its position in Viper Energy by 39.1% during the first quarter. US Bancorp DE now owns 1,965 shares of the oil and gas producer's stock worth $89,000 after acquiring an additional 552 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VNOM. Morgan Stanley cut their price objective on shares of Viper Energy from $46.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday. TD Securities set a $54.00 price objective on shares of Viper Energy in a research report on Tuesday, September 30th. Barclays cut their price objective on shares of Viper Energy from $60.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Raymond James Financial reissued an "outperform" rating and issued a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Finally, Piper Sandler boosted their price objective on shares of Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Fifteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.21.

Viper Energy Price Performance

Viper Energy stock opened at $36.22 on Friday. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The firm has a 50 day moving average price of $38.26 and a 200 day moving average price of $39.14. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 16.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.15 and a current ratio of 6.15.

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

Viper Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, August 14th. Viper Energy's payout ratio is presently 38.15%.

Viper Energy Company 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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