Viper Energy Inc. (NASDAQ:VNOM) Stock Position Raised by Virtu Financial LLC

Key Points

• Virtu Financial LLC significantly increased its stake in Viper Energy Inc. by 730.9% during the first quarter, owning approximately 38,954 shares worth about $1.76 million at the end of the period.
• Analysts have a consensus rating of "Moderate Buy" on Viper Energy, with a target price averaging $57.23 following recent upgrades from multiple investment firms.
• Viper Energy recently reported a $0.41 earnings per share (EPS) for the latest quarter, exceeding analyst expectations and demonstrating a 37.1% increase in revenue year-over-year.

Virtu Financial LLC grew its position in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 730.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,954 shares of the oil and gas producer's stock after buying an additional 34,266 shares during the quarter. Virtu Financial LLC's holdings in Viper Energy were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in VNOM. Quarry LP acquired a new stake in shares of Viper Energy during the fourth quarter valued at $32,000. UMB Bank n.a. raised its position in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Viper Energy during the first quarter valued at approximately $34,000. Golden State Wealth Management LLC boosted 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. Finally, Covestor Ltd grew its stake in Viper Energy by 8,100.0% in the 4th quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 1,296 shares during the period. Hedge funds and other institutional investors own 87.72% of the company's stock.

Viper Energy Stock Performance

Shares of VNOM traded down $0.25 during mid-day trading on Thursday, hitting $38.43. The stock had a trading volume of 2,840,059 shares, compared to its average volume of 1,647,199. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The company has a market cap of $11.09 billion, a PE ratio of 11.11, a PEG ratio of 17.31 and a beta of 0.99. The company's fifty day simple moving average is $38.68 and its two-hundred day simple moving average is $41.64.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (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%. Viper Energy's revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, equities analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 14th. Viper Energy's dividend payout ratio is presently 34.68%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VNOM shares. KeyCorp reduced their price target on Viper Energy from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Mizuho raised their price target on Viper Energy from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Evercore ISI upped their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. decreased their target price on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their target price on shares of Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Viper Energy presently has an average rating of "Moderate Buy" and a consensus price target of $57.15.

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.