Kornitzer Capital Management Inc. KS Has $5.64 Million Stock Holdings in Viper Energy Inc. (NASDAQ:VNOM)

Kornitzer Capital Management Inc. KS lessened its position in shares of Viper Energy Inc. (NASDAQ:VNOM - Free Report) by 7.4% in the first quarter, according to the company in 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 period. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Viper Energy worth $5,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Viper Energy during the fourth quarter worth about $1,701,000. Principal Financial Group Inc. raised its stake in shares of Viper Energy by 27.6% during the first quarter. Principal Financial Group Inc. now owns 302,575 shares of the oil and gas producer's stock valued at $13,661,000 after purchasing an additional 65,375 shares during the period. Amalgamated Bank lifted its position in shares of Viper Energy by 21.3% during the first quarter. Amalgamated Bank now owns 59,901 shares of the oil and gas producer's stock worth $2,705,000 after purchasing an additional 10,529 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in Viper Energy by 21.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,552,974 shares of the oil and gas producer's stock valued at $70,117,000 after purchasing an additional 271,337 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Viper Energy by 38.4% during the 1st quarter. New Mexico Educational Retirement Board now owns 25,600 shares of the oil and gas producer's stock worth $1,156,000 after buying an additional 7,100 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Viper Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Bank of America reduced their price objective on shares of Viper Energy from $53.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Mizuho upped their target price on shares of Viper Energy from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Evercore ISI lifted their price target on Viper Energy from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their target price on Viper Energy from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.46.

Viper Energy Price Performance

Shares of Viper Energy stock traded up $1.41 during trading on Thursday, hitting $37.94. The stock had a trading volume of 884,711 shares, compared to its average volume of 1,418,328. The business has a fifty day moving average of $39.88 and a two-hundred day moving average of $43.33. Viper Energy Inc. has a fifty-two week low of $34.71 and a fifty-two week high of $56.76. The firm has a market cap of $10.95 billion, a P/E ratio of 9.98, a PEG ratio of 18.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.70 and a quick ratio of 8.70.

Viper Energy (NASDAQ:VNOM - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The oil and gas producer reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. Viper Energy had a net margin of 43.43% and a return on equity of 5.41%. The firm had revenue of $245.00 million during the quarter, compared to analyst estimates of $233.99 million. During the same quarter last year, the business posted $0.49 EPS. On average, sell-side analysts expect that Viper Energy Inc. will post 2.02 earnings per share for the current fiscal year.

Viper Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, May 15th. Viper Energy's dividend payout ratio is 31.58%.

Viper Energy 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.