Viper Energy Inc. (NASDAQ:VNOM) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 15.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,000 shares of the oil and gas producer's stock after selling 44,802 shares during the period. Viper Energy makes up approximately 0.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 25th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.12% of Viper Energy worth $11,468,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Viper Energy in the fourth quarter valued at approximately $32,000. Assetmark Inc. raised its position in shares of Viper Energy by 321.7% during the 4th quarter. Assetmark Inc. now owns 679 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 518 shares during the last quarter. UMB Bank n.a. raised its position in shares of Viper Energy by 129.0% during the 1st quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 414 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Viper Energy by 43.9% during the 4th quarter. First Horizon Advisors Inc. now owns 701 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Viper Energy by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 500 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Viper Energy Stock Down 0.9%

Viper Energy stock traded down $0.33 during midday trading on Friday, hitting $38.22. 3,091,144 shares of the stock were exchanged, compared to its average volume of 1,370,612. Viper Energy Inc. has a 1 year low of $34.71 and a 1 year high of $56.76. The firm has a market cap of $11.03 billion, a P/E ratio of 10.06, a P/E/G ratio of 18.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70. The company has a 50 day moving average price of $40.71 and a two-hundred day moving average price of $44.31.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its earnings results on Monday, May 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million during the quarter, compared to the consensus estimate of $233.99 million. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, sell-side analysts predict that Viper Energy Inc. will post 2.02 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, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is presently 31.58%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VNOM. Barclays lifted their price objective on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. TD Securities lifted their price objective on Viper Energy from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. KeyCorp cut their price objective on Viper Energy from $62.00 to $56.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen upgraded Viper Energy from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.00.

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.