CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Reduces Stock Holdings in Viper Energy, Inc. (NASDAQ:VNOM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in shares of Viper Energy, Inc. (NASDAQ:VNOM - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,802 shares of the oil and gas producer's stock after selling 15,471 shares during the period. Viper Energy comprises 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 23rd largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.16% of Viper Energy worth $14,662,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VNOM. FMR LLC increased its position in shares of Viper Energy by 4,836.9% during the third quarter. FMR LLC now owns 74,596 shares of the oil and gas producer's stock valued at $3,365,000 after buying an additional 73,085 shares during the period. New York State Teachers Retirement System bought a new stake in Viper Energy during the 3rd quarter valued at approximately $984,000. Geode Capital Management LLC grew its holdings in shares of Viper Energy by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,698,661 shares of the oil and gas producer's stock worth $76,647,000 after acquiring an additional 234,048 shares during the period. Amalgamated Bank bought a new position in shares of Viper Energy in the 2nd quarter worth approximately $616,000. Finally, Summit Global Investments purchased a new position in shares of Viper Energy in the 3rd quarter valued at approximately $706,000. 87.72% of the stock is owned by institutional investors.

Viper Energy Stock Down 1.3 %

Shares of VNOM stock traded down $0.65 during mid-day trading on Friday, hitting $47.66. The company's stock had a trading volume of 1,095,687 shares, compared to its average volume of 661,471. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 20.46 and a beta of 1.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.24 and a current ratio of 7.24. Viper Energy, Inc. has a 52-week low of $30.56 and a 52-week high of $56.76. The business has a 50-day moving average price of $50.93 and a 200 day moving average price of $48.40.

Viper Energy (NASDAQ:VNOM - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $209.59 million during the quarter, compared to analyst estimates of $210.54 million. Viper Energy had a return on equity of 6.72% and a net margin of 24.65%. Viper Energy's revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. Research analysts predict that Viper Energy, Inc. will post 2.01 EPS for the current fiscal year.

Viper Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. Viper Energy's dividend payout ratio (DPR) is 51.50%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VNOM. Truist Financial increased their price objective on Viper Energy from $64.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Bank of America initiated coverage on shares of Viper Energy in a research note on Tuesday, November 26th. They set a "buy" rating and a $64.00 price objective on the stock. Raymond James raised their target price on shares of Viper Energy from $58.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Barclays boosted their price target on Viper Energy from $52.00 to $58.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price objective on Viper Energy from $45.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

About Viper Energy

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.