Cullen Capital Management LLC Cuts Holdings in Viper Energy Inc. $VNOM

Cullen Capital Management LLC lessened its stake in Viper Energy Inc. (NASDAQ:VNOM) by 55.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,868 shares of the oil and gas producer’s stock after selling 13,726 shares during the quarter. Cullen Capital Management LLC’s holdings in Viper Energy were worth $414,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its stake in Viper Energy by 1.4% in the first quarter. Kestra Advisory Services LLC now owns 18,070 shares of the oil and gas producer’s stock worth $816,000 after acquiring an additional 249 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Viper Energy by 4.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,801 shares of the oil and gas producer’s stock worth $260,000 after purchasing an additional 279 shares during the last quarter. Assetmark Inc. increased its holdings in Viper Energy by 48.7% in the second quarter. Assetmark Inc. now owns 1,068 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 350 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Viper Energy by 9.7% in the second quarter. Parkside Financial Bank & Trust now owns 4,117 shares of the oil and gas producer’s stock valued at $157,000 after buying an additional 364 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings 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 buying an additional 376 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Viper Energy Trading Down 2.3%

NASDAQ VNOM opened at $39.43 on Tuesday. Viper Energy Inc. has a one year low of $34.71 and a one year high of $52.10. The firm has a market cap of $14.18 billion, a PE ratio of 16.29, a P/E/G ratio of 18.41 and a beta of 0.48. The firm’s fifty day moving average is $37.62 and its two-hundred day moving average is $38.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.15 and a current ratio of 1.88.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $418.00 million for the quarter, compared to analyst estimates of $389.35 million. Viper Energy had a return on equity of 3.09% and a net margin of 20.62%.The business’s revenue was up 98.1% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current year.

Viper Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, November 13th. Viper Energy’s dividend payout ratio is 54.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VNOM. Barclays increased their price objective on Viper Energy from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Jefferies Financial Group assumed coverage on shares of Viper Energy in a report on Thursday, October 23rd. They set a “hold” rating and a $38.00 price objective on the stock. Mizuho upped their target price on shares of Viper Energy from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp cut their price target on shares of Viper Energy from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

Viper Energy Profile

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.