Viper Energy Inc. (NASDAQ:VNOM) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 28.9% in the first quarter, HoldingsChannel.com reports. The firm owned 13,016,792 shares of the oil and gas producer’s stock after buying an additional 2,921,832 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Viper Energy worth $587,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SCP Investment LP boosted its holdings in Viper Energy by 287.0% in the first quarter. SCP Investment LP now owns 41,800 shares of the oil and gas producer’s stock valued at $1,887,000 after purchasing an additional 31,000 shares in the last quarter. US Bancorp DE boosted its holdings 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 purchasing an additional 552 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Viper Energy by 34.6% during the first quarter. Federated Hermes Inc. now owns 9,543 shares of the oil and gas producer’s stock worth $431,000 after purchasing an additional 2,452 shares during the last quarter. Ironsides Asset Advisors LLC purchased a new position in shares of Viper Energy during the first quarter worth about $378,000. Finally, Maridea Wealth Management LLC purchased a new position in shares of Viper Energy during the first quarter worth about $485,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Viper Energy Price Performance

Shares of VNOM opened at $38.68 on Thursday. 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 market capitalization of $11.16 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 17.31 and a beta of 0.99. The firm has a 50-day simple moving average of $38.68 and a 200-day simple moving average of $41.64. 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 (NASDAQ:VNOM) 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. Viper Energy had a net margin of 37.84% and a return on equity of 3.92%. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $285.35 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. On average, equities research analysts anticipate that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be given a $0.53 dividend. The ex-dividend date is Thursday, August 14th. Viper Energy’s dividend payout ratio (DPR) is presently 34.68%.

Analyst Ratings Changes

Several equities analysts have issued reports on VNOM shares. Wells Fargo & Company raised their price objective on Viper Energy from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Mizuho raised their price objective on Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. Wall Street Zen raised Viper Energy from a “sell” rating to a “hold” rating in a report on Sunday, June 29th. Piper Sandler raised their price objective on Viper Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Barclays raised their price objective on Viper Energy from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.23.

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.