Viper Energy, Inc. (NASDAQ:VNOM) Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC cut its holdings in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 37.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 504,327 shares of the oil and gas producer's stock after selling 308,416 shares during the period. Viper Energy accounts for 2.2% of Recurrent Investment Advisors LLC's holdings, making the stock its 18th biggest holding. Recurrent Investment Advisors LLC owned about 0.29% of Viper Energy worth $22,750,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VNOM. Massachusetts Financial Services Co. MA grew its stake in Viper Energy by 12.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,085,841 shares of the oil and gas producer's stock valued at $78,282,000 after purchasing an additional 224,021 shares during the last quarter. Merewether Investment Management LP boosted its holdings in shares of Viper Energy by 22.9% in the 3rd quarter. Merewether Investment Management LP now owns 860,600 shares of the oil and gas producer's stock valued at $38,822,000 after buying an additional 160,600 shares in the last quarter. TD Asset Management Inc grew its position in shares of Viper Energy by 2.6% in the 2nd quarter. TD Asset Management Inc now owns 841,414 shares of the oil and gas producer's stock worth $31,578,000 after buying an additional 21,420 shares during the last quarter. SIR Capital Management L.P. raised its stake in shares of Viper Energy by 26.5% during the 2nd quarter. SIR Capital Management L.P. now owns 776,800 shares of the oil and gas producer's stock worth $29,153,000 after acquiring an additional 162,900 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Viper Energy by 326.0% during the second quarter. Assenagon Asset Management S.A. now owns 760,830 shares of the oil and gas producer's stock valued at $28,554,000 after acquiring an additional 582,247 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com lowered shares of Viper Energy from a "hold" rating to a "sell" rating in a report on Tuesday, November 5th. Truist Financial boosted their target price on Viper Energy from $57.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Bank of America assumed coverage on Viper Energy in a research report on Tuesday, November 26th. They set a "buy" rating and a $64.00 target price on the stock. Piper Sandler raised their price target on Viper Energy from $61.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Finally, Roth Mkm upped their price objective on shares of Viper Energy from $46.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $57.90.

Viper Energy Stock Performance

NASDAQ:VNOM traded up $0.41 during trading hours on Thursday, reaching $52.46. The company had a trading volume of 550,861 shares, compared to its average volume of 1,066,329. The company has a debt-to-equity ratio of 0.25, a current ratio of 7.24 and a quick ratio of 7.24. Viper Energy, Inc. has a 1-year low of $29.03 and a 1-year high of $56.76. The business's 50 day moving average price is $51.99 and its 200-day moving average price is $45.35. The firm has a market cap of $9.88 billion, a PE ratio of 22.52 and a beta of 1.71.

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

Viper Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, November 14th. Viper Energy's dividend payout ratio (DPR) is presently 51.50%.

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.