Viper Energy Inc. $VNOM Shares Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Viper Energy Inc. by 37.4%, holding 1,980,786 shares after purchasing an additional 539,517 shares.
• Viper Energy reported earnings of $0.41 per share, surpassing expectations of $0.34, with a revenue increase of 37.1% year-over-year.
• Analysts have mixed forecasts for Viper Energy, with a consensus rating of "Buy" and a target price of $55.80, while some brokerage firms have adjusted their price targets downwards.

Woodline Partners LP increased its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 37.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,980,786 shares of the oil and gas producer's stock after purchasing an additional 539,517 shares during the period. Viper Energy accounts for about 0.6% of Woodline Partners LP's holdings, making the stock its 23rd biggest holding. Woodline Partners LP owned approximately 0.93% of Viper Energy worth $89,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Viper Energy by 129.0% during the 1st 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 during the period. Cullen Frost Bankers Inc. purchased a new stake in Viper Energy during the 1st quarter worth $34,000. AlphaQuest LLC purchased a new stake in Viper Energy during the 1st quarter worth $41,000. Golden State Wealth Management LLC boosted its position in Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 500 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in Viper Energy during the 4th quarter worth $86,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VNOM. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 price target (down from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Viper Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. William Blair initiated coverage on shares of Viper Energy in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Morgan Stanley initiated coverage on shares of Viper Energy in a research report on Monday, August 18th. They issued an "overweight" rating and a $46.00 price objective for the company. Finally, Mizuho upped their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Sixteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Viper Energy currently has an average rating of "Buy" and a consensus target price of $55.80.

Viper Energy Stock Down 1.1%

Shares of VNOM stock traded down $0.42 during trading hours on Friday, hitting $38.57. 1,194,366 shares of the company were exchanged, compared to its average volume of 2,361,478. 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 Inc. has a one year low of $34.71 and a one year high of $56.76. The business's 50-day simple moving average is $38.06 and its two-hundred day simple moving average is $40.08. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 17.44 and a beta of 1.04.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The business 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%. The company's quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. Sell-side analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

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