Deutsche Bank AG Trims Position in Viper Energy Inc. $VNOM

Deutsche Bank AG cut its holdings in shares of Viper Energy Inc. (NASDAQ:VNOM) by 60.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,219 shares of the oil and gas producer’s stock after selling 97,811 shares during the quarter. Deutsche Bank AG’s holdings in Viper Energy were worth $2,854,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in Viper Energy during the 4th quarter worth approximately $32,000. UMB Bank n.a. raised its position in 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 worth $33,000 after buying an additional 414 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Viper Energy during the 1st quarter worth approximately $34,000. 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 buying an additional 500 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in shares of Viper Energy in the fourth quarter worth about $86,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VNOM. Mizuho upped their target price on Viper Energy from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. lowered their target price on Viper Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their target price on Viper Energy from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Evercore ISI upped their target price on Viper Energy from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley began coverage on Viper Energy in a research note on Monday. They issued an “overweight” rating and a $46.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $56.36.

Viper Energy Stock Performance

Shares of VNOM stock opened at $37.37 on Wednesday. The company has a market capitalization of $10.78 billion, a P/E ratio of 10.80, a P/E/G ratio of 17.33 and a beta of 0.99. The business’s 50 day moving average is $38.42 and its two-hundred day moving average is $41.36. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.13. Viper Energy Inc. has a 12-month low of $34.71 and a 12-month high of $56.76.

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

Viper Energy Cuts Dividend

The company also recently announced 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 5.7%. Viper Energy’s dividend payout ratio is presently 38.15%.

Viper Energy 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.