Kornitzer Capital Management Inc. KS Sells 10,000 Shares of Viper Energy Inc. (NASDAQ:VNOM)

Kornitzer Capital Management Inc. KS decreased its stake in Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,000 shares of the oil and gas producer's stock after selling 10,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Viper Energy worth $5,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Viper Energy in the fourth quarter worth about $32,000. UMB Bank n.a. increased its holdings in shares of Viper Energy by 129.0% in the first quarter. UMB Bank n.a. now owns 735 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 414 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Viper Energy by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the oil and gas producer's stock worth $45,000 after buying an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Viper Energy during the fourth quarter worth about $55,000. Finally, Covestor Ltd grew its holdings in shares of Viper Energy by 8,100.0% during the fourth quarter. Covestor Ltd now owns 1,312 shares of the oil and gas producer's stock worth $64,000 after buying an additional 1,296 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America decreased their price target on Viper Energy from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. 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. Wells Fargo & Company lifted their price target on Viper Energy from $50.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays lifted their price target on Viper Energy from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Piper Sandler raised their price objective on Viper Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.46.

Viper Energy Stock Up 1.7%

VNOM traded up $0.65 during midday trading on Friday, reaching $38.71. 1,442,924 shares of the company were exchanged, compared to its average volume of 1,419,530. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.70 and a current ratio of 8.70. The company's fifty day moving average price is $39.79 and its 200 day moving average price is $43.19. The company has a market cap of $11.17 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 18.47 and a beta of 0.97. Viper Energy Inc. has a one year low of $34.71 and a one year high of $56.76.

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 (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $245.00 million during the quarter, compared to analyst estimates of $233.99 million. Viper Energy had a return on equity of 5.41% and a net margin of 43.43%. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, analysts expect that Viper Energy Inc. will post 2.02 EPS for the current year.

Viper Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.10%. The ex-dividend date was Thursday, May 15th. Viper Energy's dividend payout ratio (DPR) is 31.58%.

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.