Legacy Wealth Managment LLC ID Sells 28,719 Shares of Viper Energy Inc. $VNOM

Legacy Wealth Managment LLC ID reduced its stake in shares of Viper Energy Inc. (NASDAQ:VNOM) by 63.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,866 shares of the oil and gas producer’s stock after selling 28,719 shares during the quarter. Legacy Wealth Managment LLC ID’s holdings in Viper Energy were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its position in Viper Energy by 4.0% in the 4th quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after purchasing an additional 493,203 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Viper Energy by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock valued at $443,918,000 after buying an additional 1,144,863 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Viper Energy by 21.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock valued at $220,637,000 after buying an additional 1,024,838 shares during the last quarter. State Street Corp lifted its stake in shares of Viper Energy by 2.9% in the second quarter. State Street Corp now owns 5,197,538 shares of the oil and gas producer’s stock valued at $198,182,000 after buying an additional 148,503 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Viper Energy by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,986,716 shares of the oil and gas producer’s stock valued at $192,672,000 after buying an additional 258,082 shares during the period. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Down 0.5%

Shares of VNOM opened at $44.89 on Friday. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 345.33 and a beta of 0.39. The company has a quick ratio of 6.37, a current ratio of 6.37 and a debt-to-equity ratio of 0.16. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a 50-day moving average price of $43.23 and a two-hundred day moving average price of $45.04.

Viper Energy (NASDAQ:VNOM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Viper Energy had a return on equity of 3.43% and a net margin of 2.89%.The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $643.45 million. During the same period in the prior year, the business posted $0.41 earnings per share. The business’s revenue was up 127.9% compared to the same quarter last year. Equities analysts predict that Viper Energy Inc. will post 2.6 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were given a $0.29 dividend. This represents a yield of 281.0%. The ex-dividend date was Thursday, August 13th. Viper Energy’s dividend payout ratio (DPR) is presently 1,169.23%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Seaport Research Partners assumed coverage on Viper Energy in a research note on Thursday. They set a “buy” rating and a $45.00 price target on the stock. Morgan Stanley reduced their price objective on Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Raymond James Financial set a $57.00 price objective on Viper Energy in a report on Friday, July 31st. Wells Fargo & Company boosted their price objective on Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Johnson Rice initiated coverage on Viper Energy in a research note on Monday, August 3rd. They issued an “accumulate” rating and a $55.00 target price for the company. Sixteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.93.

Viper Energy Profile

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.