Cinctive Capital Management LP Purchases 13,323 Shares of Viper Energy Inc. $VNOM

Cinctive Capital Management LP raised its position in Viper Energy Inc. (NASDAQ:VNOM) by 19.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 83,323 shares of the oil and gas producer’s stock after purchasing an additional 13,323 shares during the period. Cinctive Capital Management LP’s holdings in Viper Energy were worth $3,185,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VNOM. TD Waterhouse Canada Inc. boosted its position in shares of Viper Energy by 4.3% during the second quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock worth $260,000 after buying an additional 279 shares during the period. Ironsides Asset Advisors LLC raised its position in Viper Energy by 3.7% in the 3rd quarter. Ironsides Asset Advisors LLC now owns 7,841 shares of the oil and gas producer’s stock valued at $300,000 after buying an additional 280 shares during the last quarter. GAMMA Investing LLC lifted its stake in Viper Energy by 16.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,354 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 337 shares in the last quarter. Aurora Investment Counsel boosted its position in Viper Energy by 1.0% during the 3rd quarter. Aurora Investment Counsel now owns 37,746 shares of the oil and gas producer’s stock worth $1,443,000 after acquiring an additional 359 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Viper Energy by 4.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,902 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 376 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VNOM has been the topic of a number of recent research reports. Mizuho lifted their price objective on shares of Viper Energy from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Morgan Stanley reduced their target price on shares of Viper Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Viper Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Viper Energy in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on shares of Viper Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Fourteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and a consensus target price of $51.71.

Viper Energy Trading Up 0.1%

NASDAQ VNOM opened at $44.25 on Monday. Viper Energy Inc. has a 12 month low of $34.71 and a 12 month high of $48.00. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $41.84 and a 200-day moving average of $39.40. The company has a market cap of $15.82 billion, a PE ratio of -192.38 and a beta of 0.48.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Viper Energy had a negative net margin of 4.87% and a positive return on equity of 2.62%. The business had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.51 million. During the same period in the previous year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 87.6% on a year-over-year basis. On average, equities research analysts anticipate that Viper Energy Inc. will post 2.02 EPS for the current fiscal year.

Viper Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a $0.38 dividend. This is a boost from Viper Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.4%. Viper Energy’s payout ratio is -660.87%.

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.