Encompass Capital Advisors LLC Sells 883,762 Shares of Viper Energy Inc. $VNOM

Encompass Capital Advisors LLC cut its position in Viper Energy Inc. (NASDAQ:VNOM) by 65.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 464,604 shares of the oil and gas producer’s stock after selling 883,762 shares during the period. Encompass Capital Advisors LLC owned about 0.13% of Viper Energy worth $21,832,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Viper Energy in the 4th quarter valued at approximately $1,543,000. Taylor Frigon Capital Management LLC bought a new stake in shares of Viper Energy during the fourth quarter worth $1,637,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Viper Energy during the fourth quarter worth $1,777,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Viper Energy during the fourth quarter worth $4,493,000. Finally, Oak Thistle LLC bought a new stake in Viper Energy in the 4th quarter valued at $1,332,000. Institutional investors own 87.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VNOM. Morgan Stanley reduced their target price on shares of Viper Energy from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Barclays lifted their price target on Viper Energy from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “hold (c)” rating on shares of Viper Energy in a report on Friday, July 17th. KeyCorp upped their price objective on Viper Energy from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Truist Financial decreased their price objective on Viper Energy from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, July 20th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.57.

Viper Energy Stock Performance

Shares of VNOM stock opened at $43.04 on Tuesday. The firm has a market cap of $15.45 billion, a PE ratio of -134.50 and a beta of 0.40. Viper Energy Inc. has a 12 month low of $35.10 and a 12 month high of $51.13. The company’s fifty day simple moving average is $44.16 and its 200-day simple moving average is $44.37. 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 quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.12. Viper Energy had a negative net margin of 2.77% and a positive return on equity of 2.64%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $499.81 million. During the same period in the previous year, the business earned $0.54 EPS. The company’s revenue was up 108.6% compared to the same quarter last year. Equities research analysts expect that Viper Energy Inc. will post 2.42 EPS for the current fiscal 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 issued a $0.38 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.5%. Viper Energy’s dividend payout ratio (DPR) is presently -475.00%.

Viper Energy Company 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.