CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 15,471 Shares of Viper Energy, Inc. (NASDAQ:VNOM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its position in Viper Energy, Inc. (NASDAQ:VNOM) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,802 shares of the oil and gas producer’s stock after selling 15,471 shares during the quarter. Viper Energy comprises about 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 23rd biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Viper Energy were worth $14,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VNOM. Farther Finance Advisors LLC grew its stake in shares of Viper Energy by 328.5% in the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 450 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 460 shares during the period. National Bank of Canada FI grew its position in Viper Energy by 524.8% in the 3rd quarter. National Bank of Canada FI now owns 1,387 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 1,165 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Viper Energy during the 4th quarter worth about $94,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Viper Energy during the third quarter valued at about $144,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Viper Energy Price Performance

Shares of Viper Energy stock opened at $47.66 on Friday. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 20.46 and a beta of 1.73. The firm’s 50-day moving average price is $51.00 and its two-hundred day moving average price is $48.34. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.25. Viper Energy, Inc. has a 1-year low of $30.56 and a 1-year high of $56.76.

Viper Energy (NASDAQ:VNOM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. The firm had revenue of $209.59 million during the quarter, compared to analysts’ expectations of $210.54 million. During the same period last year, the firm posted $1.10 EPS. The business’s revenue was down 28.5% on a year-over-year basis. On average, equities analysts predict that Viper Energy, Inc. will post 2.01 earnings per share for the current fiscal year.

Viper Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. Viper Energy’s dividend payout ratio is 51.50%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VNOM. KeyCorp upgraded Viper Energy from a “sector weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Friday, December 13th. Raymond James boosted their price objective on Viper Energy from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Truist Financial lifted their price target on shares of Viper Energy from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America assumed coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Evercore ISI lifted their target price on shares of Viper Energy from $45.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Viper Energy Company 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.