CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Stake in Viper Energy, Inc. (NASDAQ:VNOM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 314,273 shares of the oil and gas producer's stock after purchasing an additional 10,223 shares during the quarter. Viper Energy makes up approximately 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 24th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.18% of Viper Energy worth $14,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Viper Energy by 208.1% during 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 stake in Viper Energy in the 2nd quarter valued at $36,000. Plato Investment Management Ltd grew its position in Viper Energy by 119.2% in the 2nd quarter. Plato Investment Management Ltd now owns 2,834 shares of the oil and gas producer's stock valued at $106,000 after purchasing an additional 1,541 shares during the period. ORG Partners LLC grew its position in Viper Energy by 962.3% in the 2nd quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer's stock valued at $107,000 after purchasing an additional 2,550 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Viper Energy in the 3rd quarter valued at $144,000. Institutional investors and hedge funds own 87.72% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on VNOM. Piper Sandler lifted their price target on shares of Viper Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. TD Securities lifted their price target on shares of Viper Energy from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Evercore ISI lifted their price target on shares of Viper Energy from $37.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 8th. Truist Financial lifted their price target on shares of Viper Energy from $54.00 to $57.00 and gave the company a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Viper Energy from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Viper Energy currently has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Viper Energy Stock Performance

Shares of NASDAQ VNOM traded up $1.11 during mid-day trading on Tuesday, reaching $52.74. 724,585 shares of the company's stock were exchanged, compared to its average volume of 1,108,436. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 17.83 and a beta of 1.73. Viper Energy, Inc. has a 52 week low of $27.61 and a 52 week high of $52.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.06 and a quick ratio of 7.06. The firm has a 50-day moving average price of $47.46 and a two-hundred day moving average price of $42.08.

Viper Energy (NASDAQ:VNOM - Get Free Report) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.19. The company had revenue of $216.71 million for the quarter, compared to analysts' expectations of $216.28 million. Viper Energy had a return on equity of 8.46% and a net margin of 25.63%. The business's revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. Analysts predict that Viper Energy, Inc. will post 1.99 EPS for the current year.

Viper Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy's dividend payout ratio (DPR) is currently 41.10%.

Viper Energy Company Profile

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.