Waratah Capital Advisors Ltd. Lowers Stock Holdings in Viper Energy Inc. $VNOM

Waratah Capital Advisors Ltd. lessened its position in Viper Energy Inc. (NASDAQ:VNOM) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,289 shares of the oil and gas producer’s stock after selling 22,711 shares during the quarter. Waratah Capital Advisors Ltd. owned approximately 0.10% of Viper Energy worth $10,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VNOM. Financial Gravity Companies Inc. purchased a new stake in Viper Energy during the second quarter worth about $27,000. Cullen Frost Bankers Inc. acquired a new position in shares of Viper Energy in the first quarter valued at approximately $34,000. AlphaQuest LLC purchased a new stake in Viper Energy during the 1st quarter worth approximately $41,000. Assetmark Inc. lifted its holdings in Viper Energy by 48.7% during the 2nd quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock worth $41,000 after buying an additional 350 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Viper Energy by 82.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,181 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 534 shares during the period. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VNOM shares. Jefferies Financial Group initiated coverage on Viper Energy in a research note on Thursday, October 23rd. They issued a “hold” rating and a $38.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research note on Wednesday, October 8th. TD Securities set a $54.00 target price on shares of Viper Energy in a research note on Tuesday, September 30th. Morgan Stanley decreased their price target on shares of Viper Energy from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. Fifteen investment analysts have rated the stock with 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 an average target price of $54.27.

Viper Energy Stock Up 2.2%

Shares of NASDAQ:VNOM opened at $37.95 on Friday. The firm has a 50 day simple moving average of $37.77 and a 200-day simple moving average of $38.73. Viper Energy Inc. has a twelve month low of $34.71 and a twelve month high of $56.76. The company has a current ratio of 1.88, a quick ratio of 6.15 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $10.95 billion, a PE ratio of 15.68, a P/E/G ratio of 16.86 and a beta of 0.89.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Viper Energy had a net margin of 20.62% and a return on equity of 3.09%. The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. During the same period last year, the business earned $0.49 EPS. Viper Energy’s revenue for the quarter was up 98.1% compared to the same quarter last year. On average, equities analysts predict that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, November 13th. Viper Energy’s payout ratio is presently 54.55%.

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.