Viper Energy Inc. $VNOM Position Lifted by Keybank National Association OH

Keybank National Association OH grew its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 76.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 40,376 shares of the oil and gas producer’s stock after purchasing an additional 17,502 shares during the quarter. Keybank National Association OH’s holdings in Viper Energy were worth $1,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VNOM. Capital World Investors lifted its position in shares of Viper Energy by 4.0% during the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after purchasing an additional 493,203 shares during the last quarter. Wellington Management Group LLP raised its stake in Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock valued at $443,918,000 after buying an additional 1,144,863 shares in the last quarter. Oaktree Capital Management LP bought a new position in Viper Energy during the 3rd quarter worth approximately $240,215,000. Adage Capital Partners GP L.L.C. grew its position in shares of Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after acquiring an additional 1,024,838 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Viper Energy by 2.9% in the 2nd quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after acquiring an additional 148,503 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on VNOM shares. Roth Capital reiterated a “buy” rating and set a $54.00 target price on shares of Viper Energy in a research note on Tuesday, May 5th. Barclays boosted their price objective on shares of Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada assumed coverage on shares of Viper Energy in a report on Friday, May 29th. They issued an “outperform” rating and a $58.00 target price on the stock. Wells Fargo & Company lifted their target price on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Morgan Stanley lowered their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.15.

Viper Energy Stock Performance

Shares of VNOM traded up $0.52 during midday trading on Tuesday, hitting $41.00. 194,121 shares of the stock traded hands, compared to its average volume of 2,541,115. The business’s 50 day moving average price is $45.54 and its two-hundred day moving average price is $43.82. The firm has a market capitalization of $14.72 billion, a PE ratio of -127.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17. Viper Energy Inc. has a 1-year low of $35.10 and a 1-year high of $51.13.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The company’s revenue for the quarter was up 108.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Equities research analysts predict that Viper Energy Inc. will post 2.49 EPS for the current fiscal year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a $0.38 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.7%. Viper Energy’s dividend payout ratio is -475.00%.

About Viper Energy

Viper Energy Partners LP is a publicly traded master limited partnership that owns and intends to acquire mineral and royalty interests in oil and natural gas properties. As a pass-through entity, Viper Energy Partners does not engage in drilling or production operations directly; instead, it generates revenues by holding overriding royalty interests, mineral fee interests and royalty fee interests. These interests entitle the partnership to receive a percentage of the proceeds from hydrocarbons produced and sold by third-party operators.

The partnership’s assets are concentrated in the Permian Basin, with a primary focus on the Delaware Basin region of West Texas and southeastern New Mexico.