Viper Energy, Inc. (NASDAQ:VNOM) Stock Holdings Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 38.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,478 shares of the oil and gas producer's stock after selling 16,663 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Viper Energy were worth $1,194,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VNOM. Farther Finance Advisors LLC raised its stake in Viper Energy by 328.5% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 450 shares during the period. GAMMA Investing LLC raised its position in shares of Viper Energy by 208.1% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the oil and gas producer's stock worth $31,000 after buying an additional 460 shares during the period. International Assets Investment Management LLC acquired a new position in Viper Energy in the second quarter valued at $36,000. ORG Partners LLC grew its position in Viper Energy by 962.3% during the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer's stock valued at $107,000 after acquiring an additional 2,550 shares during the period. Finally, Plato Investment Management Ltd increased its stake in Viper Energy by 119.2% during the second quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer's stock worth $106,000 after acquiring an additional 1,541 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VNOM has been the subject of a number of research reports. Raymond James boosted their target price on Viper Energy from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Bank of America began coverage on shares of Viper Energy in a research report on Tuesday. They issued a "buy" rating and a $64.00 price objective for the company. Piper Sandler upped their price target on shares of Viper Energy from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their price target on Viper Energy from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their price objective on Viper Energy from $52.00 to $58.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.78.

Viper Energy Stock Performance

VNOM opened at $54.26 on Wednesday. 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 twelve month low of $29.03 and a twelve month high of $56.76. The business's 50 day moving average is $50.92 and its 200-day moving average is $44.66. The stock has a market cap of $10.22 billion, a PE ratio of 23.29 and a beta of 1.72.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $209.59 million for the quarter, compared to the consensus estimate of $210.54 million. Viper Energy had a net margin of 24.65% and a return on equity of 6.72%. Viper Energy's revenue was down 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. On average, analysts predict that Viper Energy, Inc. will post 2.02 earnings per share for the current year.

Viper Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.21%. Viper Energy's dividend payout ratio (DPR) is 51.50%.

About Viper Energy

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.