PNC Financial Services Group Inc. Has $385,000 Stock Holdings in Viper Energy Inc. (NASDAQ:VNOM)

PNC Financial Services Group Inc. lessened its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,526 shares of the oil and gas producer’s stock after selling 599 shares during the period. PNC Financial Services Group Inc.’s holdings in Viper Energy were worth $385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VNOM. Freestone Grove Partners LP acquired a new position in Viper Energy during the fourth quarter valued at approximately $19,469,000. T. Rowe Price Investment Management Inc. grew its holdings in Viper Energy by 20.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,309,425 shares of the oil and gas producer’s stock valued at $113,324,000 after purchasing an additional 389,473 shares during the last quarter. Invesco Ltd. grew its holdings in Viper Energy by 164.3% during the fourth quarter. Invesco Ltd. now owns 576,637 shares of the oil and gas producer’s stock valued at $28,296,000 after purchasing an additional 358,487 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Viper Energy by 36.0% during the first quarter. GW&K Investment Management LLC now owns 1,072,101 shares of the oil and gas producer’s stock valued at $48,405,000 after purchasing an additional 283,628 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in Viper Energy by 21.2% during the first quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer’s stock valued at $70,117,000 after purchasing an additional 271,337 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analysts Set New Price Targets

VNOM has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on Viper Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Raymond James Financial restated an “outperform” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Viper Energy in a research note on Tuesday, July 29th. Bank of America lowered their price objective on shares of Viper Energy from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Sunday, June 29th. Finally, Mizuho raised their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Viper Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.15.

Viper Energy Stock Down 0.6%

Shares of VNOM stock opened at $38.43 on Friday. The stock has a market cap of $11.09 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 17.54 and a beta of 0.99. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76. The stock has a fifty day moving average price of $38.64 and a 200 day moving average price of $41.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.15 and a quick ratio of 6.15.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.35 million. Viper Energy had a return on equity of 3.92% and a net margin of 37.84%. Viper Energy’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Analysts predict that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.5%. Viper Energy’s dividend payout ratio (DPR) is presently 34.68%.

Viper Energy Company Profile

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.