Viper Energy Inc. $VNOM Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the oil and gas producer’s stock after selling 35,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Viper Energy were worth $4,229,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in Viper Energy during the 4th quarter worth $27,000. Parallel Advisors LLC increased its stake in Viper Energy by 68.3% in the third quarter. Parallel Advisors LLC now owns 1,400 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 568 shares during the period. UMB Bank n.a. purchased a new stake in shares of Viper Energy in the fourth quarter valued at about $64,000. Nisa Investment Advisors LLC raised its holdings in shares of Viper Energy by 256.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,794 shares of the oil and gas producer’s stock valued at $69,000 after buying an additional 1,291 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of Viper Energy by 50.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after buying an additional 654 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on VNOM. Jefferies Financial Group raised Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday, April 13th. Roth Capital reaffirmed a “buy” rating and set a $54.00 price objective on shares of Viper Energy in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a research report on Monday, April 20th. Royal Bank Of Canada started coverage on Viper Energy in a research note on Friday, May 29th. They issued an “outperform” rating and a $58.00 target price on the stock. Finally, Zacks Research lowered Viper Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Viper Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.15.

Viper Energy Stock Performance

Shares of VNOM stock traded up $0.36 during mid-day trading on Friday, hitting $42.03. The stock had a trading volume of 947,927 shares, compared to its average volume of 1,924,724. The firm has a market cap of $15.09 billion, a PE ratio of -131.34 and a beta of 0.40. The company’s 50-day simple moving average is $45.06 and its 200-day simple moving average is $43.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.17 and a quick ratio of 6.17. Viper Energy Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $51.13.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The business’s revenue was up 108.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that Viper Energy Inc. will post 2.45 earnings per share for the current year.

Viper Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, May 14th. Viper Energy’s payout ratio is currently -475.00%.

About Viper Energy

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.