Viper Energy Inc. $VNOM Position Boosted by CX Institutional

CX Institutional lifted its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 14.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,935 shares of the oil and gas producer’s stock after purchasing an additional 734 shares during the period. CX Institutional’s holdings in Viper Energy were worth $226,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Kestra Advisory Services LLC lifted its position in shares of Viper Energy by 1.4% during the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock worth $816,000 after purchasing an additional 249 shares during the last quarter. Segment Wealth Management LLC lifted its position in shares of Viper Energy by 3.9% during the first quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 360 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Viper Energy by 5.1% during the first quarter. Private Advisor Group LLC now owns 8,260 shares of the oil and gas producer’s stock worth $373,000 after purchasing an additional 398 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Viper Energy by 1.9% during the first quarter. Concurrent Investment Advisors LLC now owns 20,861 shares of the oil and gas producer’s stock worth $942,000 after purchasing an additional 399 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Viper Energy by 129.0% during the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 414 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on VNOM shares. KeyCorp lowered their target price on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Raymond James Financial reissued an “outperform” rating and issued a $57.00 target price (down previously from $60.00) on shares of Viper Energy in a report on Tuesday, July 29th. Roth Capital set a $50.00 target price on shares of Viper Energy and gave the stock a “buy” rating in a report on Tuesday, August 26th. William Blair began coverage on shares of Viper Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company cut their target price on shares of Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Sixteen analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $55.53.

Viper Energy Price Performance

Shares of NASDAQ:VNOM opened at $39.71 on Friday. The firm’s 50 day moving average is $38.22 and its two-hundred day moving average is $39.74. Viper Energy Inc. has a 52 week low of $34.71 and a 52 week high of $56.76. The firm has a market capitalization of $11.46 billion, a P/E ratio of 11.48, a PEG ratio of 17.77 and a beta of 1.04. 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 (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating 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 company had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.35 million. During the same quarter last year, the business earned $0.62 earnings per share. Viper Energy’s revenue was up 37.1% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $0.53 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.12 annualized dividend and a dividend yield of 5.3%. Viper Energy’s dividend payout ratio (DPR) is presently 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.