Tcfg Wealth Management LLC Sells 1,020 Shares of Viper Energy Inc. $VNOM

Tcfg Wealth Management LLC reduced its position in Viper Energy Inc. (NASDAQ:VNOM) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 39,465 shares of the oil and gas producer’s stock after selling 1,020 shares during the period. Tcfg Wealth Management LLC’s holdings in Viper Energy were worth $1,505,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Kestra Advisory Services LLC increased its position in Viper Energy by 1.4% in 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 period. Segment Wealth Management LLC boosted its stake in shares of Viper Energy by 3.9% in the 1st quarter. Segment Wealth Management LLC now owns 9,520 shares of the oil and gas producer’s stock valued at $430,000 after purchasing an additional 360 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Viper Energy by 5.1% in the 1st quarter. Private Advisor Group LLC now owns 8,260 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 398 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Viper Energy by 1.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 20,861 shares of the oil and gas producer’s stock worth $942,000 after buying an additional 399 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of 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 worth $33,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Stock Performance

Shares of Viper Energy stock opened at $38.90 on Tuesday. The stock’s fifty day simple moving average is $38.32 and its 200 day simple moving average is $39.49. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $11.22 billion, a PE ratio of 11.24, a PEG ratio of 17.43 and a beta of 0.92. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $56.76.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%.The company’s revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, research analysts predict that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently announced 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. This represents a $2.12 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy’s dividend payout ratio is presently 38.15%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VNOM shares. Morgan Stanley started coverage on shares of Viper Energy in a research note on Monday, August 18th. They issued an “overweight” rating and a $46.00 price objective on the stock. William Blair started coverage on Viper Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Roth Capital set a $50.00 price objective on Viper Energy and gave the stock a “buy” rating in a research note on Tuesday, August 26th. KeyCorp dropped their price objective on Viper Energy from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Finally, Piper Sandler raised their target price on Viper Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.27.

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.