WBI Investments LLC Makes New Investment in Viper Energy Inc. $VNOM

Key Points

• WBI Investments LLC invested approximately $2.53 million in Viper Energy Inc., purchasing 56,051 shares during the first quarter.
• Viper Energy's latest quarterly earnings report showed an EPS of $0.41, exceeding estimates, with a revenue increase of 37.1% compared to the previous year.
• The company recently announced a dividend of $0.53, resulting in an annualized dividend yield of 5.4% and a payout ratio of 38.15%.

WBI Investments LLC purchased a new stake in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,051 shares of the oil and gas producer's stock, valued at approximately $2,531,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of VNOM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Viper Energy by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer's stock valued at $9,233,000 after purchasing an additional 37,847 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Viper Energy by 37.4% in the first quarter. Woodline Partners LP now owns 1,980,786 shares of the oil and gas producer's stock valued at $89,432,000 after purchasing an additional 539,517 shares during the period. Yaupon Capital Management LP purchased a new position in shares of Viper Energy in the first quarter valued at approximately $23,654,000. United Services Automobile Association purchased a new stake in shares of Viper Energy during the first quarter worth approximately $351,000. Finally, Goldman Sachs Group Inc. increased its stake in Viper Energy by 264.2% in the first quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer's stock valued at $10,872,000 after purchasing an additional 174,684 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VNOM shares. Bank of America decreased their price target on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Mizuho reduced their price target on Viper Energy from $55.00 to $51.00 and set an "outperform" rating on the stock in a research report on Monday. Morgan Stanley assumed coverage on Viper Energy in a report on Monday, August 18th. They issued an "overweight" rating and a $46.00 price target for the company. Wells Fargo & Company decreased their price target on Viper Energy from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Finally, KeyCorp reduced their target price on Viper Energy from $56.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $55.53.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM traded up $0.66 during mid-day trading on Tuesday, reaching $38.16. The company had a trading volume of 445,130 shares, compared to its average volume of 1,728,279. The company's 50-day moving average price is $38.08 and its 200-day moving average price is $39.98. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 17.26 and a beta of 1.04.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates 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 previous year, the business earned $0.62 EPS. As a group, equities research analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current fiscal 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. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a yield of 5.6%. Viper Energy's dividend payout ratio (DPR) is currently 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.