TD Asset Management Inc Has $34.68 Million Stake in Viper Energy Inc. $VNOM

TD Asset Management Inc trimmed its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 14.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 897,677 shares of the oil and gas producer’s stock after selling 156,191 shares during the quarter. TD Asset Management Inc’s holdings in Viper Energy were worth $34,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Viper Energy by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 16,906,846 shares of the oil and gas producer’s stock valued at $646,180,000 after acquiring an additional 3,699,141 shares during the period. Capital World Investors lifted its position in shares of Viper Energy by 18.7% during the 3rd quarter. Capital World Investors now owns 12,423,354 shares of the oil and gas producer’s stock valued at $474,821,000 after acquiring an additional 1,957,417 shares during the period. Oaktree Capital Management LP bought a new stake in shares of Viper Energy during the 3rd quarter valued at $240,215,000. State Street Corp lifted its position in shares of Viper Energy by 2.9% during 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 period. Finally, Geode Capital Management LLC lifted its position in shares of Viper Energy by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock valued at $192,672,000 after acquiring an additional 258,082 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Viper Energy Stock Performance

Shares of NASDAQ:VNOM opened at $45.46 on Friday. The company’s 50 day simple moving average is $46.93 and its 200 day simple moving average is $43.05. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of -142.06 and a beta of 0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick 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 announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $499.82 million. During the same period last year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 108.6% compared to the same quarter last year. As a group, research analysts predict that Viper Energy Inc. will post 2.5 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.3%. Viper Energy’s dividend payout ratio (DPR) is currently -475.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VNOM. Wells Fargo & Company lifted their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Truist Financial set a $58.00 price objective on shares of Viper Energy in a research note on Wednesday, May 6th. Mizuho lifted their price objective on shares of Viper Energy from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group raised shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Monday, April 13th. Finally, Citigroup lifted their price objective on shares of Viper Energy from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $58.38.

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.