Geode Capital Management LLC lifted its stake in Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 16.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,698,661 shares of the oil and gas producer's stock after purchasing an additional 234,048 shares during the quarter. Geode Capital Management LLC owned 0.96% of Viper Energy worth $76,647,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Viper Energy by 328.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 450 shares in the last quarter. GAMMA Investing LLC lifted its position in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock worth $31,000 after buying an additional 460 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Viper Energy during the 2nd quarter valued at $36,000. National Bank of Canada FI grew its holdings in shares of Viper Energy by 524.8% during the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer's stock valued at $63,000 after acquiring an additional 1,165 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in shares of Viper Energy by 119.2% in the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer's stock worth $106,000 after acquiring an additional 1,541 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.
Viper Energy Price Performance
Shares of NASDAQ VNOM traded down $0.34 during trading on Friday, reaching $47.64. The company had a trading volume of 2,932,997 shares, compared to its average volume of 1,067,711. Viper Energy, Inc. has a 52 week low of $30.21 and a 52 week high of $56.76. The business's 50 day moving average price is $52.26 and its 200-day moving average price is $46.27. The stock has a market cap of $8.98 billion, a PE ratio of 20.45 and a beta of 1.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24.
Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $209.59 million during the quarter, compared to analysts' expectations of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. Viper Energy's revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. Analysts expect that Viper Energy, Inc. will post 2.01 earnings per share for the current year.
Viper Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.52%. Viper Energy's dividend payout ratio is currently 51.50%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on VNOM. Bank of America initiated coverage on Viper Energy in a research report on Tuesday, November 26th. They issued a "buy" rating and a $64.00 target price on the stock. KeyCorp raised shares of Viper Energy from a "sector weight" rating to an "overweight" rating and set a $62.00 price objective on the stock in a research report on Friday, December 13th. The Goldman Sachs Group began coverage on shares of Viper Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $70.00 target price for the company. Raymond James raised their price target on shares of Viper Energy from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, Barclays upped their price objective on shares of Viper Energy from $52.00 to $58.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.18.
Check Out Our Latest Stock Report on VNOM
About Viper Energy
(
Free Report)
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.
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