Viper Energy Inc. $VNOM Stake Cut by CI Investments Inc.

CI Investments Inc. lessened its holdings in Viper Energy Inc. (NASDAQ:VNOM) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,884 shares of the oil and gas producer’s stock after selling 20,588 shares during the quarter. CI Investments Inc.’s holdings in Viper Energy were worth $5,539,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Viper Energy in the 4th quarter valued at about $27,000. Parallel Advisors LLC raised its stake in Viper Energy by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,354 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 322 shares during the period. UMB Bank n.a. acquired a new stake in Viper Energy during the fourth quarter worth about $64,000. Nisa Investment Advisors LLC lifted its holdings in 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 worth $69,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in Viper Energy by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,940 shares of the oil and gas producer’s stock worth $75,000 after acquiring an additional 654 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.

Viper Energy Trading Down 0.3%

NASDAQ:VNOM opened at $45.14 on Friday. Viper Energy Inc. has a 1 year low of $35.10 and a 1 year high of $51.13. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of -141.06 and a beta of 0.40. The business has a fifty day moving average of $44.36 and a 200-day moving average of $44.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.17 and a current ratio of 6.17.

Viper Energy (NASDAQ:VNOM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations 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 revenue was up 108.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Equities analysts predict that Viper Energy Inc. will post 2.42 earnings per share for the current year.

Viper Energy Announces Dividend

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

Analyst Ratings Changes

VNOM has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Viper Energy from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Monday, April 13th. Roth Capital set a $52.00 target price on Viper Energy in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price target on shares of Viper Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 15th. KeyCorp upped their price target on shares of Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.57.

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.