Viper Energy Inc. $VNOM Stock Holdings Cut by CI Investments Inc.

CI Investments Inc. cut its position in shares of Viper Energy Inc. (NASDAQ:VNOM) by 14.9% during the 1st quarter, Holdings Channel reports. The firm owned 117,884 shares of the oil and gas producer’s stock after selling 20,588 shares during the period. CI Investments Inc.’s holdings in Viper Energy were worth $5,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors raised its position in Viper Energy by 4.0% in the fourth quarter. Capital World Investors now owns 12,916,557 shares of the oil and gas producer’s stock worth $498,967,000 after acquiring an additional 493,203 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Viper Energy by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,491,534 shares of the oil and gas producer’s stock worth $443,918,000 after purchasing an additional 1,144,863 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Viper Energy by 21.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,711,539 shares of the oil and gas producer’s stock worth $220,637,000 after purchasing an additional 1,024,838 shares in the last quarter. State Street Corp lifted its stake in Viper Energy by 2.9% during 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 purchasing an additional 148,503 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Viper Energy by 5.5% during 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 purchasing an additional 258,082 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 0.3%

Shares of VNOM stock opened at $45.14 on Friday. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company has a market cap of $16.21 billion, a PE ratio of -141.06 and a beta of 0.40. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $44.36 and its two-hundred day moving average is $44.27.

Viper Energy (NASDAQ:VNOM) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.12. The firm had revenue of $511.00 million during 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 company’s quarterly revenue was up 108.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Equities analysts predict that Viper Energy Inc. will post 2.42 EPS for the current year.

Viper Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, May 14th. Viper Energy’s dividend payout ratio is currently -475.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Viper Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Truist Financial reduced their price objective on Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday. Barclays upped their target price on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Roth Capital set a $52.00 price target on Viper Energy in a research note on Wednesday, July 15th. Finally, Morgan Stanley dropped their price target on Viper Energy from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Fifteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Viper Energy has an average rating of “Moderate Buy” and a consensus price target of $57.57.

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.