Truist Financial Corp Lowers Stake in Viper Energy Inc. $VNOM

Truist Financial Corp lowered its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 19.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 109,497 shares of the oil and gas producer’s stock after selling 25,668 shares during the quarter. Truist Financial Corp’s holdings in Viper Energy were worth $4,175,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Viper Energy by 6,591.3% in the 1st quarter. GAMMA Investing LLC now owns 91,068 shares of the oil and gas producer’s stock worth $4,112,000 after acquiring an additional 89,707 shares during the period. UMB Bank n.a. boosted its stake in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 414 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Viper Energy by 24.5% in the first quarter. Yousif Capital Management LLC now owns 44,788 shares of the oil and gas producer’s stock valued at $2,022,000 after purchasing an additional 8,811 shares during the period. CX Institutional purchased a new position in Viper Energy in the 1st quarter valued at about $235,000. Finally, Defined Financial Planning LLC purchased a new position in Viper Energy in the 1st quarter valued at about $264,000. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VNOM has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $57.00 price objective (down from $60.00) on shares of Viper Energy in a research report on Tuesday, July 29th. William Blair assumed coverage on Viper Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Mizuho decreased their price target on shares of Viper Energy from $55.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Roth Capital set a $50.00 price target on shares of Viper Energy and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, TD Securities set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, September 30th. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and an average target price of $55.07.

Viper Energy Stock Performance

Shares of NASDAQ VNOM opened at $38.31 on Thursday. The stock has a market capitalization of $11.05 billion, a P/E ratio of 11.07, a P/E/G ratio of 17.22 and a beta of 0.92. Viper Energy Inc. has a 52-week low of $34.71 and a 52-week high of $56.76. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $38.34 and its two-hundred day moving average price is $39.48.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.07. The business 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%.The business’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Thursday, August 14th. Viper Energy’s payout ratio is 38.15%.

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.