CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 74,000 Shares of Viper Energy Inc. $VNOM

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in Viper Energy Inc. (NASDAQ:VNOM) by 26.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,000 shares of the oil and gas producer’s stock after selling 74,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Viper Energy were worth $9,633,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of VNOM. Stephens Inc. AR grew its holdings in Viper Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 13,720 shares of the oil and gas producer’s stock worth $645,000 after acquiring an additional 245 shares during the period. HB Wealth Management LLC lifted its stake in shares of Viper Energy by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 6,348 shares of the oil and gas producer’s stock valued at $245,000 after purchasing an additional 317 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Viper Energy by 1.8% during the 1st quarter. Apollon Wealth Management LLC now owns 21,036 shares of the oil and gas producer’s stock valued at $988,000 after purchasing an additional 368 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Viper Energy by 5.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,498 shares of the oil and gas producer’s stock valued at $290,000 after purchasing an additional 404 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in Viper Energy by 4.6% during the third quarter. Moneta Group Investment Advisors LLC now owns 9,239 shares of the oil and gas producer’s stock worth $353,000 after purchasing an additional 409 shares during the period. Institutional investors own 87.72% of the company’s stock.

Viper Energy Stock Performance

NASDAQ VNOM opened at $40.75 on Monday. The company has a market cap of $14.63 billion, a price-to-earnings ratio of -127.34 and a beta of 0.40. Viper Energy Inc. has a 52 week low of $35.10 and a 52 week high of $51.13. The business has a 50 day moving average price of $45.68 and a 200-day moving average price of $43.81. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.15.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.12. Viper Energy had a positive return on equity of 2.64% and a negative net margin of 2.77%.The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Viper Energy’s revenue for the quarter was up 108.6% on a year-over-year basis. As a group, equities analysts expect that Viper Energy Inc. will post 2.49 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

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 dividend of $0.38 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a yield of 3.7%. Viper Energy’s dividend payout ratio is presently -475.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VNOM shares. Piper Sandler lifted their target price on Viper Energy from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Wells Fargo & Company raised their price objective on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. KeyCorp lifted their price objective on shares of Viper Energy from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Jefferies Financial Group upgraded shares of Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Monday, April 13th. Finally, Raymond James Financial increased their target price on shares of Viper Energy from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Viper Energy currently has an average rating of “Moderate Buy” and an average price target of $58.15.

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.