Viper Energy Inc. $VNOM Stock Position Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Viper Energy Inc. (NASDAQ:VNOM) by 39.5% in the 4th quarter, Holdings Channel reports. The fund owned 34,822 shares of the oil and gas producer’s stock after selling 22,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Viper Energy were worth $1,345,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in VNOM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Viper Energy by 38.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,881 shares of the oil and gas producer’s stock valued at $2,162,000 after acquiring an additional 13,218 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Viper Energy by 264.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 240,799 shares of the oil and gas producer’s stock valued at $10,872,000 after acquiring an additional 174,684 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Viper Energy by 22.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,499 shares of the oil and gas producer’s stock valued at $9,233,000 after acquiring an additional 37,847 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Viper Energy by 30.7% in the 2nd quarter. Prudential Financial Inc. now owns 12,785 shares of the oil and gas producer’s stock valued at $487,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Viper Energy by 6.5% in the 2nd quarter. Guggenheim Capital LLC now owns 23,028 shares of the oil and gas producer’s stock valued at $878,000 after acquiring an additional 1,405 shares in the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $48.88 on Thursday. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $49.08. The firm’s fifty day simple moving average is $46.14 and its 200 day simple moving average is $41.30. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $17.48 billion, a PE ratio of -212.51, a PEG ratio of 1.00 and a beta of 0.50.

Viper Energy (NASDAQ:VNOM) last posted its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.51 million. During the same period last year, the business posted $2.04 EPS. Viper Energy’s revenue was up 87.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Viper Energy Inc. will post 2.33 EPS for the current year.

Viper Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, March 5th. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. Viper Energy’s dividend payout ratio (DPR) is -660.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Securities upped their price target on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Barclays cut their target price on shares of Viper Energy from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Mizuho increased their target price on shares of Viper Energy from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Viper Energy in a research report on Monday, April 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $60.00 target price on shares of Viper Energy in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $55.00.

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.