Royal Bank of Canada Acquires 100,193 Shares of Viper Energy Inc. $VNOM

Royal Bank of Canada lifted its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 37.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 370,040 shares of the oil and gas producer’s stock after buying an additional 100,193 shares during the period. Royal Bank of Canada’s holdings in Viper Energy were worth $17,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VNOM. Los Angeles Capital Management LLC acquired a new position in Viper Energy during the fourth quarter worth $27,000. Parallel Advisors LLC raised its holdings in Viper Energy by 68.3% during the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 568 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Viper Energy in the fourth quarter worth about $64,000. Clearstead Advisors LLC lifted its position in shares of Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after buying an additional 654 shares during the last quarter. Finally, Strive Financial Group LLC bought a new stake in shares of Viper Energy during the 4th quarter worth about $97,000. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 0.0%

Shares of NASDAQ:VNOM opened at $41.41 on Friday. The company has a market cap of $14.87 billion, a P/E ratio of 318.56 and a beta of 0.40. The stock’s 50-day moving average is $43.56 and its 200-day moving average is $44.70. Viper Energy Inc. has a 52-week low of $35.10 and a 52-week high of $51.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.17 and a current ratio of 6.37.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $643.45 million. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 127.9% on a year-over-year basis. Equities research analysts predict that Viper Energy Inc. will post 2.38 earnings per share for the current year.

Viper Energy Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a $0.29 dividend. This represents a yield of 266.0%. The ex-dividend date of this dividend is Thursday, August 13th. Viper Energy’s payout ratio is currently 1,169.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VNOM. Barclays increased their price objective on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Roth Capital restated a “buy” rating on shares of Viper Energy in a report on Tuesday. Morgan Stanley decreased their target price on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Finally, Raymond James Financial set a $57.00 price target on shares of Viper Energy in a research report on Friday, July 31st. Seventeen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and an average target price of $57.07.

Viper Energy Company Profile

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.