Wellington Management Group LLP Buys 1,301,933 Shares of Viper Energy Inc. $VNOM

Key Points

• Wellington Management Group LLP increased its stake in Viper Energy Inc. by 12.2%, acquiring an additional 1,301,933 shares, bringing its total holding to approximately 11.95 million shares valued at $539.7 million.
• Institutional investors now own 87.72% of Viper Energy's stock, with several firms, including Bank of Montreal and Barclays, significantly increasing their positions in the company during the fourth quarter.
• Viper Energy recently declared a quarterly dividend of $0.53, which represents an annualized yield of 5.7%, following a strong financial performance with a reported $0.41 earnings per share for the previous quarter.

Wellington Management Group LLP increased its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,953,910 shares of the oil and gas producer's stock after purchasing an additional 1,301,933 shares during the quarter. Wellington Management Group LLP owned approximately 5.61% of Viper Energy worth $539,719,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of Viper Energy by 20.1% during the 4th quarter. Bank of Montreal Can now owns 14,253 shares of the oil and gas producer's stock valued at $699,000 after purchasing an additional 2,390 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Viper Energy by 48.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,789 shares of the oil and gas producer's stock valued at $235,000 after buying an additional 1,563 shares during the period. Barclays PLC boosted its position in shares of Viper Energy by 77.0% in the 4th quarter. Barclays PLC now owns 77,810 shares of the oil and gas producer's stock worth $3,819,000 after purchasing an additional 33,848 shares in the last quarter. Mariner LLC purchased a new stake in shares of Viper Energy during the fourth quarter valued at approximately $249,000. Finally, Walleye Capital LLC grew its holdings in shares of Viper Energy by 284.1% during the fourth quarter. Walleye Capital LLC now owns 19,978 shares of the oil and gas producer's stock valued at $980,000 after buying an additional 14,777 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on VNOM. Raymond James Financial reiterated an "outperform" rating and issued a $57.00 price target (down from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Barclays lifted their price target on shares of Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Piper Sandler lifted their price objective on shares of Viper Energy from $66.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Evercore ISI boosted their price target on shares of Viper Energy from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to MarketBeat, Viper Energy has an average rating of "Moderate Buy" and an average price target of $56.36.

Viper Energy Price Performance

Shares of NASDAQ VNOM opened at $37.24 on Tuesday. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $56.76. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 17.58 and a beta of 0.99. The firm has a 50-day simple moving average of $38.49 and a 200-day simple moving average of $41.39. 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 announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The company 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%. Viper Energy's revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be paid a $0.53 dividend. The ex-dividend date is Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a yield of 5.7%. Viper Energy's payout ratio is currently 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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