Amalgamated Bank Buys 10,529 Shares of Viper Energy Inc. (NASDAQ:VNOM)

Amalgamated Bank grew its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,901 shares of the oil and gas producer’s stock after purchasing an additional 10,529 shares during the period. Amalgamated Bank’s holdings in Viper Energy were worth $2,705,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Viper Energy during the fourth quarter valued at $32,000. Assetmark Inc. raised its position in shares of Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 518 shares in the last quarter. UMB Bank n.a. raised its position in shares of Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 414 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Viper Energy by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 500 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Viper Energy in the fourth quarter worth about $55,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Trading Down 0.9%

Shares of VNOM opened at $38.41 on Friday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 18.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70. Viper Energy Inc. has a 1-year low of $34.71 and a 1-year high of $56.76. The company has a 50-day moving average of $40.48 and a 200 day moving average of $43.89.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The firm had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, research analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy’s dividend payout ratio is 31.58%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VNOM. JPMorgan Chase & Co. decreased their price objective on Viper Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. TD Securities increased their price target on Viper Energy from $57.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Raymond James Financial restated an “outperform” rating and issued a $60.00 price target (up from $54.00) on shares of Viper Energy in a research report on Thursday, June 5th. Piper Sandler cut their price objective on shares of Viper Energy from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Finally, KeyCorp reduced their target price on shares of Viper Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.