Viper Energy Inc. $VNOM Shares Purchased by Independence Bank of Kentucky

Key Points

• Independence Bank of Kentucky increased its stake in Viper Energy Inc. by 154.0% in Q2, owning 24,592 shares valued at $938,000 by the end of the quarter.
• Viper Energy recently cut its dividend to $0.53 per share, reflecting a 5.5% yield, with a payout ratio of 38.15%.
• Equities research analysts have a consensus Buy rating on Viper Energy (VNOM), with an average price target of $55.53.

Independence Bank of Kentucky increased its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 154.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,592 shares of the oil and gas producer's stock after purchasing an additional 14,912 shares during the period. Independence Bank of Kentucky's holdings in Viper Energy were worth $938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew 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 worth $33,000 after purchasing an additional 414 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy in the first quarter valued at $34,000. AlphaQuest LLC purchased a new stake in Viper Energy in the first quarter valued at $41,000. Golden State Wealth Management LLC lifted its position in Viper Energy by 100.0% in 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 acquiring an additional 500 shares during the last quarter. Finally, US Bancorp DE lifted its position in Viper Energy by 39.1% in the first quarter. US Bancorp DE now owns 1,965 shares of the oil and gas producer's stock valued at $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 Analysts Forecast Growth

A number of equities research analysts recently weighed in on VNOM shares. Wall Street Zen cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the company a "buy" rating in a research report on Tuesday, August 26th. Wells Fargo & Company reduced their price target on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. KeyCorp reduced their price target on shares of Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Finally, Morgan Stanley started coverage on shares of Viper Energy in a research report on Monday, August 18th. They issued an "overweight" rating and a $46.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $55.53.

Viper Energy Trading Down 3.1%

NASDAQ VNOM opened at $38.48 on Tuesday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 11.12, a P/E/G ratio of 17.75 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. The firm has a 50-day moving average price of $38.25 and a 200 day moving average price of $39.70. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $297.00 million during 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 firm's revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. Equities research analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy's dividend payout ratio is currently 38.15%.

About Viper Energy

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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